Senior citizens and wealth tax

Published Jul 02, 2013 07:57am

THE recently-proposed Wealth Tax (called Income Support Levy) places an uncharitable and unfair burden on senior citizens.

One works all his working life and saves so that when he is unable to earn his livelihood he can rely on his savings for an income for his family and himself. Now not only is his income from his movable property taxed, but it is now proposed to tax his movable assets too, leaving little for the senior citizen to live on.

Income tax laws tax the income of senior citizens at a concessionary rate but this concession is of little value as most senior citizens cannot work and tax on his earnings from savings is taxed at the source.

It is, therefore, just fair that senior citizens be exempted from the income support levy or at least from half of it.

CONCERNED SENIOR CITIZEN Karachi

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Comments (1) (Closed)


muzammil ullah khan
Jul 03, 2013 06:49am

This Govt of Nawaz and this finance minister have simply taxed those who do not own businesses and agricultural land . The salaried , the retired and the widows are being taxed . The rest are allowed to sit in the assemblies without even a tax number ! One MUST learn to become a tax cheat to survive in these environments . This is another version of " Qarz utaro Mulk Savaro" !!