A
AU
4
+ 5
67
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
** 2 2 2 * * * * 7 2 2
24
25
26
27
28
29
30
NP.
31
32
33
34
35
36
Although the Government has introduced this
year an allowance of up to $15,000 for working wives, the issue of separate taxation for
married women has not yet been resolved. [In his Budget speech, the Financial Secretary warned that there are a number of difficult questions involved which would not make it feasible to introduce separate taxation overnight. While I agree with him on this, I believe that the principle of separate taxation has to be accepted by Government sooner or later, and the earlier the better. Once the principle is accepted, the manner and timing of implementation in an
ordered
equitable,
way can then be carefully
investigated. [The other day I came across
a statement made by the Singapore Finance Minister when he presented his Budget to the Singapore parliament this year; He said: 'Our personal tax rates are not onerous and are low compared to many other countries. By way of illustration, it is often not realised that a large number of tax payers in Singapore with assessible incomes below S$150,000, and that is equivalent to HK$585,000 per year, actually pay less personal income taxes that their counterparts in Hong Kong. And this is what he said when he introduced this year's Budget in the Singapore parliament. I wonder whether the lowering of the standard rate for personal
percent tax from 16.5 to 15.5 as mentioned in this
pir cint
year's Budget proposals will make a subst-
difference for this income
antial group when compared to Singapore? If the statement by the Singapore Finance
le.