LETTER OF TRANSMITTAL CONGRESS OF THE UNITED STATES, JOINT COMMITTEE ON INTERNAL REVENUE TAXATION, Hon. WALTER F. GEORGE, United States Senate. MY DEAR SENATOR: There is transmitted herewith in accordance with your direction a preliminary report on taxation in Canada prepared by Mr. Bryant C. Brown of the staff of the joint committee, reviewing the tax structure under the 1942 tax laws, and the development from the pre-war period to the present. It contains data with respect to national income, debt, revenue, expenditures, and taxes compared with taxes in the United States, and statements on wage and price control, compulsory savings, and withholding taxes useful in studying the subject. Very truly yours, COLIN F. STAM, III LETTER OF SUBMITTAL CONGRESS OF THE UNITED STATES, JOINT COMMITTEE ON INTERNAL REVENUE TAXATION, Mr. COLIN F. STAM, August 21, 1942. Chief of Staff, Joint Committee on Internal Revenue Taxation, Washington, D. C. DEAR MR. STAM: There is submitted herewith a preliminary report on taxation in Canada. The report submitted covers the recently enacted taxes in Canada. and makes comparison with taxes in the United States under existing law and as proposed in the 1942 revenue bill. It is divided into two sections, section 1 dealing with present law in Canada after enactment of the 1942 tax program, and section 2, for historical and comparative purposes, comparing taxation in the pre-war period with subsequent taxation. While, obviously it is not intended as an intensive treatise on taxation in Canada, it is hoped that it presents the Canadian system in sufficient outline to afford a fair understanding of the operation and effects of the tax system employed to meet its fiscal problems in wartime. For convenience the text of the 1942 statutes amending existing tax law will be found in the appendix. Amendments to the Income War Tax Act cover individual and corporation normal income tax, amendments to the Excess Profits Tax Act of 1940 cover excessprofits taxes, and the amendments to the Special War Revenue Act cover excise and other taxes. Very truly yours, BRYANT C. BROWN. Effective tax compared on selected incomes: Table 1. Single persons, married persons, and married Table 4. Married persons with two dependents, United States |