TAXATION OF WAR WEALTH.
[To THE EDITOR Or THE " SPrOVATos."]
Sia,—The Board of Inland Revenue proposes that the amount tc be taxed shall be the wealth of the individual at the post-war date lees his pre-war wealth with £5,000 added to it., This arbitrary amount of £5,000 is indefensible. As the intention is to tax war wealth, there should be substituted for this .25,000 the amount of the savings which the individual would have effected had there been no war. This is easily arrived at by the same method as was applied under the Excess Profits Tax—viz., take the individual's savings in each of the three years preceding the war, let him select two of these, and strike the average. The annual amount of his savings ea obtained should than be multiplied by the number of years between the pre- and post- war dates and the result added to his pre-war wealth, the total being then deducted from his wealth at the post-war date. This would give the amount of his war wealth.—I am, Sir, &o.,
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