3.2.87
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Third, that the child allowance be increased,
for a first child from $9,000 to $11,000,
for a second child from $6,000 to $8,000. The
and
new allowances will be respectively some 22%
and 33% higher than the present allowances
which were set in 1985.
Lastly, that the third band in the Second
Schedule of the Ordinance, that is to say the
band to which the 15% marginal rate of tax
presently applies, be widened from $10,000 to
$20,000. This will defer by $10,000 of income
the point at which the 20% rate takes effect
and, at the same time, will increase the
income levels at which taxpayers enter the
standard rate zone.
124.
Because an across the board increase in all
allowances would be extremely expensive, I further propose
that the new additional personal allowances of $5,000 for
a single person and $10,000 for a married couple be
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