- Book: The Assessment of Income Tax (Classic Reprint)
- Author: William Schooling
- Number of pages: 26
- E-book file-sizes: 0.31 – 1.07 Mb
Excerpt from The Assessment of Income TaxThe Income-tax Regulations in the Finance Bill of 1909 are of an exceedingly complicated character. They involve four different rates of tax, five different amounts of abatement, eleven sudden jumps in the rate of tax payable, and the method adopted is such as to call for a rearrangement of the whole system in the event of the income-tax being raised or lowered in the future.In this article I am in no way concerned with the justice or wisdom of the provisions of this or of subsequent Budgets. My object is simply to propose a method of assessing income which1. Requires only one rate of income-tax.2. Avoids the sudden jumps that occur at present.3. Allows for future variation in the rate of tax without any change in the method of assessment.The general method which I suggest for accomplishing these objects is to make abatements of specified amounts, and add to, or subtract from, the income, less the abatement, certain simple proportions.About the PublisherForgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.comThis book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
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