History of New Zealand. Vol. III.
12. Income Tax
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12. Income Tax.
Levied on all incomes over £300 not derived from land, with an exemption of first £300 and a further exemption up to £50 for Life Assurance Premiums paid, at the following rates for 1893–4:—
| First taxable £1000 | 6d. in £1 |
| Over £1000 | 1s. in £1 |
(Note.—No exemption to absentees or companies. Dividends from companies are not included in individual incomes, but are taxed as Companies’ Income. Companies pay the higher rate.)
| Revenue, 1893–4 | £75,238 |
| Revenue, 1894–5 | 89,892 |
Of which the proportion payable by companies is 53 per cent.
| No. of taxpayers, 1892–3 (including 237 companies) | 3,448 |
Proportion to adult male population, nearly 2 per cent.
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