§ 56. Mr. W. J. Brownasked the Chancellor of the Exchequer whether his Regulations allow a fanner, before striking his balance of profit or loss for tax purposes, to debit his account with any salary or wage for his own services.
§ Sir J. AndersonThe deductions admissible for taxation purpose in the computation of profits of a business are governed by Statute law and not by Regulations and the law allows no deduction in respect of salary or wages drawn by the proprietor of a business.
§ Mr. BrownIn those circumstances, would the Chancellor of the Exchequer kindly oblige by arranging for an early alteration of the Act?
§ Sin J. AndersonI see no point in that suggestion.