HC Deb 22 June 1910 vol 18 cc346-7
Mr. MOND

asked whether it is intended that income from capital invested abroad which is not brought into the United Kingdom should be included in Super-tax Returns?

Mr. LLOYD GEORGE

Under the Finance (1909–10) Act, 1910, an individual is not required to include in his statement of income for the purpose of assessment to Super-tax income derived from capital invested out of the United Kingdom which is not at any time received, or brought, or remitted into this country.

Mr. ORMSBY-GORE

May I ask whether in the next Budget that will be altered, and such income come within the purview of the Super-tax?

Mr. G. A. LLOYD

Could not the Super-tax be placed on all those industries which, in Free Trade England, as at present constituted, enjoy monopolistic advantages?

Mr. STEEL-MAITLAND

Will the right hon. Gentleman consider the remission of the Super-tax in the case of those incomes which are at present subject to double Income Tax taxation, as, for example, a Colonial living in Queensland and drawing an income from the United Kingdom?

Mr. LLOYD GEORGE

I agree that it is a hardship, but the same thing happens in regard to Australia. I will put it the other way round. A man with an income in Australia has to pay although he lives here. I think it is a hardship, but it is a very difficult case to deal with.

Mr. STEEL-MAITLAND

Would the right hon. Gentleman consider the remedying of the matter through the agencies for the remission of Super-tax? This affords a way of dealing with the thing uncontro-versially, and without raising the other question of double taxation.

Mr. LLOYD GEORGE

I must consider that. I could not give an answer oft-hand.