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7.
though making a considerable saving on personal emoluments,
having budgeted therefor at 1/4 for 1935, took no action to
grant the bonus, although it had shown its appreciation of the
increased cost of living by raising the emoluments of the sterl-
ing paid employees of the Shing Mun Scheme above the figures at
which they had contracted to serve. Your Petitioners therefore
suffered a cut of 15% (or7%) on the rates of salaries contemplated
by the Salaries Commission for the major portion of 1935, while
in the month of December they were paid at the rate of 1/5 in-
stead of at 1/4, the rate as calculated according to the recom-
mendation of the Commission and set out in paragraph 2. above.
There remains therefore the question whether the Colony is
already so heavily taxed that the imposition of further taxation
would impose an unduly heavy burden on the public.
Your Petitioners respectfully submit that the Colony is
extremely lightly taxed and that it is well able to bear such
additional taxation as might be necessary to pay their salaries
in full and to meet all budgetary difficulties.
Apart from a small Betting Tax, an Amusement Tax and taxes
on Liquors, Tobacco and Petrol, the first four of which may be
regarded as luxury taxes, and those taxes which directly affect
and are borne by shipping, the taxes or charges which directly
fall upon the public are:-
(a) the assessed rate which is 17% on the assessed annual value
of occupied property, and
(b) a charge of 50 cents per 1,000 gallons for such water as may
be used in excess of a free allowance made in respect of
rated tenements.
Your Petitioners particularly desire at this point to call
attention to the fact that no Income Tax whatsoever is levied in
the Colony.
The assessed rate of 17% is equivalent, if converted into
the English method of computation, to a rate of three shillings
No comments yet.
Private notes are available after approval.