“In this world,” said Benjamin Franklin, “nothing is certain but death and taxes”, a remark with which all taxpayers, and not least those responsible for the management of life offices, will feel at the present time in cordial agreement. The great increase in the last few years in the rate of income tax undoubtedly presses very hardly upon the tax-paying community, and it is probably, in part, owing to this increase that there have recently been several cases before the Courts on the subject of the tax, which are not without interest to those engaged in the business of life assurance. To some of these I propose to direct your attention to-night.