§ Mr. WATTasked the Secretary to the Treasury whether his Department permits 296 as a deduction in paying Income Tax premiums paid for fidelity insurance in cases where such insurance is a condition precedent to the earning of the income?
Mr. McKINNON WOODWhen an employé is obliged by the terms of his appointment to pay a premium for fidelity insurance the Board of Inland Revenue would not object to the allowance of a deduction of the amount of the premium in determining the Income Tax liability.