§ Mr. PATRICK WHITEasked the Chancellor of the Exchequer whether tenants who have purchased their holdings in Ireland under various Land Acts would, on receipt of their vesting orders, be liable to pay income tax, and upon what scale and valuation; whether the re-valuation of Ireland was for the purpose of forming a new basis of taxation; and, if not, for what purpose it was proposed to carry it out?
§ Mr. LLOYD-GEORGETenants who purchase their holdings under the Irish196W Land Acts become liable to income tax, schedule A, on the poor law valuation, and at the rate in force for the year, subject to exemption if their total incomes do not exceed £160 a year. The new valuation throughout the United Kingdom is to be undertaken in connection with the proposed new land value duties.
§ Mr. H. H. MARKSasked the Chancellor of the Exchequer what, under the new scheme of taxation, would be the rate applied and the total income tax levied on an income of £2,015, of which £1,995 was earned and £20 was unearned, if the person in receipt of the income had one child under 16 years of age and if the same person had two children under 16 years of age?
§ Mr. LLOYD-GEORGEThe rate of the proposed tax would be 1s. in the £ on £1,995 and l s. 2d. in the £ on £20, giving a total of £100 18s. 4d. As the total income specified is in excess of £500 per annum no deduction would be allowable for children.