§ Mr. FETHERSTONHAUGH
asked the Chancellor of the Exchequer why the Commissioners of Income Tax have called on holders of the preference stocks of the Grand Trunk Railway Company of Canada, who were paid dividends on 6th May, 1909, less 1s. in the pound for Income Tax, to pay a further 2d. in the pound, seeing that these dividends were struck in March, 1909, and were payable out of the profits of the company to 31st December, 1908?
§ Mr. LLOYD GEORGE
Perhaps the hon. Member will permit me to refer him to my reply of 8th September, 1909, to the then hon. Member for Devonport, in which I explained fully the principles governing the deduction of Income Tax.