TNAG-1362-FCO40-1808-Hong-Kong-Hansard-reports-and-minutes-of-the-meetings-of-the-1985 — Page 140

These proposals are generous given our present budgetary position, but I believe that they have been seen as fair by Members and the public. As foreshadowed in my 1984 Budget Speech they are intended to benefit the less well-off salaries tax-payer. In fact I now estimate that they should benefit over 280,000 people either by removing or reducing their liability to

Salaries Tax.

Clause 4 of the Bill is a transitional provision. to ensure that provisional tax assessed after 1 April 1985 is based upon the new allowances. They will not however, as was the practice in the past, be applicable to the final tax liability for the previous year, i.e. the new scale of allowances will not be applicable to 1984-85. these measures are expected to cost the Government $150 million in 1985-86 and $210 million per annum thereafter.

so,

Sir, I move that the debate on this motion be

Even

adjourned.