MR. C. MACVEIGH (Donegal, E.)To ask Mr. Chancellor of the Exchequer whether he is aware that the surveyors of taxes demand income-tax on money that has already paid income tax in New South Wales; whether he will state if money coming here as capital from Australia is liable to income-tax when it reaches England; whether he is aware that double income-tax and exchange means £12 per £100; and will he take immediate steps to end this alleged grievance.
(Answered by Mr. Lloyd-George.) The fact that money remitted from abroad has been subjected to income-tax in a British Colony does not exempt it from liability to taxation in this country under the Income-Tax Acts, and, as at present advised, I do not see my way to propose any alteration of the law in this respect. As regards the other point raised by the hon. Member, remittances which are clearly shown to be remittances of capital are not taxable as income in this country.