Many times, the death benefit your loved ones receives is income-tax free.
The heavy taxation of the war years was still retained, to the disgust especially of the income-tax payers; and new issues arose over the Education Act, labour questions, and the introduction of Chinese labour into South Africa (in 1904), which were successfully used against the government in the constituencies.
The country was still bearing an income-tax of elevenpence in the pound; it appeared that the old sources of revenue were inadequate; and meanwhile the statistics of trade, it was argued, showed that the English free-import system hampered English trade while providing the foreigner with a free market.
Properly a "duty" differs from a "tax" in being levied on specific commodities, transactions, estates, &c., and not on individuals; thus it is right to talk of import-duties, excise-duties, deathor succession-duties, &c., but of income-tax as being levied on a person in proportion to his income.
The income-tax having been declared unconstitutional by the Supreme Court, the measure had failed to produce a sufficient revenue, and it had been necessary to increase the public debt.
As minister of finance in the Bourgeois cabinet (from the 3rd of November 1895 to the 21st of April 1896) he tried without success to introduce an income-tax.
In the £ on capital value, and also of a graduated-tax upon unimproved land values, and an income-tax also graduated, though less elaborately.
Above all, the chancellor's mode of handling the income-tax attracted interest and admiration.
He promised that, if he were returned to power, he would repeal the income-tax.
The income-tax is not levied on incomes drawn from land.