Resolved that it is expedient to amend the Income War Tax Act to provide-
1. That a war surtax of 20 per centum of the -total income tax otherwise payable under the said act be imposed upon all persons other than corporations.
2. That the rate of tax applicable to corporations and joint stock companies, except those filing consolidated returns, be increased from 15 to 18 per centum.
3. That the rate of tax applicable to corporations _ and joint stock companies which file consolidated returns under the said act be increased from 17 to 20 per centum.
4. That voluntary donations to approved patriotic organizations and institutions in Canada during the present war be allowed as a deduction from income, up to 50 per centum of the net taxable income of the taxpayer.
5. (1) That the amendments proposed in resolutions 1 and 4 hereof be applicable to the income of 1939 and all fiscal periods ending therein and of subsequent periods.
(2) That the amendments proposed in resolutions 2 and 3 hereof be applicable to the income of 1940 and all fiscal periods ending therein after March 31, 1940, and of subsequent periods.