Major Millsasked the Chancellor of the Exchequer whether it will be permissible in future for Income Tax payers to deduct from their Income Tax returns premiums paid to insurance companies and friendly societies in respect of sickness and disablement benefits?
§ Sir J. SimonThe only provision for the allowance of relief from Income Tax in respect of the payment of premiums is that contained in Section 32 of the Income Tax Act, 1918, which relates to premiums paid in respect of insurance on life or a contract for a deferred annuity. It would not appear that the premiums referred to by my hon. and gallant Friend fall within the terms of that Section.