§ Mr. CASSELasked whether the employers' contributions to insurance will be a deduction for Income Tax purposes as part of employers' expenses; and, if not, whether he will insert a Clause in the Bill authorising this deduction?
Mr. McKINNON WOODI am advised that contributions under the National Insurance Bill paid by employers in respect of persons employed by them wholly in earning the profits of their business will be allowable as a business expense in estimating the assessable profits according to the rules of the Income Tax Acts.