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22.
Section 43: We have also received requests for allowancos
in respect or children beyond the fourth child. To suggest
the following addition to subsection (c) of subsection (1)
of Section 43:-
"and two hundred dollars for cach subsequent child"
together with tho substitution of the following proviso (iii):-
"Total allowances in respect of children shall not
excccd in all seven thousand dollars".
We have considered the question of apprentices. As proviso
(ii) is at presont drafted, apprentices - even though they
may be receiving no emoluments or purely nominal emoluments
do not rank for child allowances. We agree that this is not
equitable and wo suggest the following addition to proviso
(ii):-
"other than employment proved to the satisfaction of the
Commissioner to be apprenticeship".
We note that as drafted the Bill makes no provision for the
deduction from income of any charges theroon by way of
interest, etc. and we suggest that the following be addrā
to the allowances under Section 43 (1):-
(e) sums payable by way of interest on any money
borrowed for the purpose of producing the income or
any part thereof.
In connection with (a) of subsection (1) we have considered a proposal that contributions to a Provident Fund should
be allowed as deductions from income for the purpose of
taxation. We are of the opinion, however, that such
contributions being not entirely of the nature of life
insurance but, rather, savings should not be allowable.
If such a proposal were accepted it would be difficult to
refuse to allow any other form of saving as deduction
from income for taxation purposes.