§ 77. Mr. FRANK GRAYasked the Chancellor of the Exchequer whether, in proposed legislation in relation to Income Tax, he will consider the advisability of the abolition, so far as possible, of estimated and average basis, and the substitution of a basis of the actual income for the preceding year?
§ Mr. BALDWINThe abolition of the average basis in favour of the preceding year basis for purposes of assessment under Schedule D, is among the recommendations of the Royal Commission on the Income Tax which still remain to be dealt with. I am well aware that advantages attach to this proposal, but the present is not an opportune moment for preparing this reform.
§ 78. Mr. F. GRAYasked the Chancellor of the Exchequer whether, in any proposed legislation affecting Income Tax and Super-tax, he will consider the advisability of making provision whereby only one return form, issued by the inspector of taxes, of all income shall replace the present system of many returns from different addresses in respect of different items of income, such returns in appropriate cases being transmitted after noting by the inspector of taxes to the Super-tax Department?
§ Mr. BALDWINThe issue of more than one return form to particular taxpayers is a necessary corollary of the present system of Income Tax administration, but certain recommendations of the Royal Commission on the Income Tax, if ultimately adopted by Parliament, will considerably restrict the issue of forms.