NOTE.-As a reduction or repeal of duty as a rule leads to an increased consumption or use of the articles affected, the gain to the taxpayer is usually greater than the loss to the Revenue resulting from such reductions or repeal. NOTE.-As an increase of duty may lead to a diminished consumption or use of the articles taxed the gain to the Revenue is not necessarily a measure of the burden of the increase on the taxpayer. LOCAL TAXATION ACCOUNTS. No. 11.-PAYMENTS TO LOCAL TAXATION ACCOUNTS, &c. CERTAIN of these GRANTS represent PAYMENTS in respect of DUTIES which were assigned by various Acts to Local Purposes. Prior to 1907-8, those Duties were paid direct to the Local Taxation Accounts, &c., but under the Finance Act, 1907, they were paid to the Exchequer, and the equivalent thereof was made payable from the Consolidated Fund. Under the "Finance (1909-10) Act, 1910," and the "Revenue Act, 1911," certain of these payments have been fixed at the equivalent of the proceeds of the particular duties for the year 1908-9. [Compiled from the Finance Accounts of the United Kingdom.] (a) Including additional grant under the Revenue Act, 1911, of the amount by which the proceeds of these duties for 1909-10 fell short of the proceeds for 1908-9. (b) Equivalent of proceeds for the year 1908–9. (c) Includes balance due for 1920-1. (d) Equivalent of proceeds for the year 1908-9, less deductions under Sec. 47 (2) of the " Finance (1909-10) Act, 1910." (e) Certain of the Irish Grants ceased to be payable from 22nd November, 1921, in respect of Northern Ireland, and all Irish Grants ceased on 31st March, 1922. (f) Includes £38,046 retained in Guarantee Fund under the Purchase of Land (Ireland) Act to meet charges thereon. (g) After deduction of £108,202 to adjust expenditure on Cattle Pleuro-Pneumonia in 1923-4 due to be met from Local Taxation Accounts, but actually met from Exchequer, (h) £14,755 " £199 957 LOCAL TAXATION ACCOUNTS. No. 12.-ACTUAL INCOME of TAXPAYERS (a) for the Purposes of the INCOME TAX. (Compiled from the Annual Reports of the Inland Revenue Department.) INCOME TAX. (a) The " actual income" is the statutory income of the taxpayer, estimated in accordance with the provisions of the Income Tax Acts, after deduction of the income of individuals below the effective exemption limit. (b) The "profits" of Nurseries and Market Gardens and the "assumed profits" (for years prior to 1915-16 one-third of the "annual value," for the years 1915-6 to 1917-8, 1922-3 and 1923-4 the full "annual value," and for the years 1918-9 to 1921-2 twice the "annual value ") of other lands. (c) From 1916-7 to 1922-3 the figures of income under Schedule D include wages of weekly wage-earners assessed quarterly; for 1923-4 these are included under Schedule E. (d) From 1923-4 onwards Employments are assessed under Schedule E. (e) Excluding Irish Free State. NOTE. For information relating to the Number and Amounts of Incomes of Taxpayers, classified according to amounts (1919-20), see the 64th Inland Revenue Report (pp. 112-113). |