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Tax means more income to spend; FEEDBACK.

IN answer to Brian Earl of Ryton who asks for an explanation about tax on his pension.

If his tax-free allowance has dropped from PS3,704 to PS3,204 over a period of time he must have had a rise in his pension of PS500 during the same period.

He will therefore pay tax on this amount at a rate of 20% which is an additional tax burden of PS100, which means he has had a rise in disposable income of PS400.

Everyone has to pay tax on any income above their allowances whether they are pensioners or workers.

I only wish I was paying more tax because that would mean I would have more disposable income.

R NIVEN, Wardley, Gateshead
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Title Annotation:Letters
Publication:Evening Chronicle (Newcastle, England)
Date:Mar 27, 2014
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