§ 34. Mr. C. BATHURSTasked the Chancellor of the Exchequer what is the amount of Income Tax now derived from real property and from other sources respectively?
§ Mr. LLOYD GEORGEThe Income Tax identifiable as having been paid in respect of the ownership of lands and houses amounted in the year 1911–12 to £10,159,000 (net). The Income Tax from other sources amounted to £31,157,000. The last mentioned figure includes, however, a considerable amount of tax on lands and houses owned by railway, water, and mining concerns, which is covered by the general assessment on the profits of the undertaking.
§ Mr. C. BATHURSTDoes the first mentioned figure include Income Tax under Schedule B which is paid by farmers?
§ Mr. LLOYD GEORGEI should doubt that. That would not be strictly a tax on land, but a tax on the profits of an industry. I will look into that matter.