§ Mr. T. Duncombe
wished to puta question to the right hon. Baronet at the head of her Majesty's Government. The right hon. Baronet was aware that in the metropolis, and throughout the country, persons possessed funded or landed property, derived from bequests, on which 10 per cent. of duty had been already paid. His question was, whether income arising from such sources would be liable to the proposed Income-tax?
§ Sir R Peel
said, that it was not intended that the incomes of charitable institutions, whether derived from rents of 839 land, or from dividends payable by the public securities, should be subjected to the Income-tax, provided always such incomes were applied to strictly charitable purposes. He apprehended, however, that salaries of officers attached to charitable institutions would be subject to the proposed impost. But when the money was applied to bonâ fide charitable purposes, then no Income-tax would be exigible on revenue derived either from the funds or rents of land.