Income Tax as Affecting Life Assurance Offices

In submitting these remarks on Income Tax I need hardly say that they do not form an exhaustive article on the subject. The paper is intended rather to show in a general way the practical effect of the Income Tax law as regards Life Assurance Offices. The method of dealing with the subject would appear, perhaps, to be following the line of least resistance; but, as the more recent Income Tax legislation, so far as regards the assessment of such Institutions, is hardly yet out of its infancy, I think the purpose of the paper will be best served if it is confined to a review of the recent changes in the law and of the law as it at present stands.