TAX CUTS IN AUSTRALIA
Press Assn.-
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Received Friday, 9.10 p.m. ' j CANBKRRA, July 12. | lueome tax cuts deeided upon by the Commonwealth (tovern- | ment, were annuiuieed in the House of Representativos by Mr. ; (liitley. _. | A single person earning only £125 yearly will receive a j reduction of 39.6 per cent. on the 1945 schedule. Tlte reductions ; decrcase to 12.3 per cent. at £1000 yearly and -6.8 per cent. at £5000. Mr. Chihey said the reductions will 'total £17.500,000 yearly and represent an average cut of 11 per cent. over the total tax field. The reductions undeiqthe new sealc are no't e-xpeeted to operate I until September but will be made retrospeetive to July 1. As the result of new pensions coneessions there ivill be 95,000 | new pensions in Australia and ine.reased payments will be made j ■to 50,000.. existing pepsioncrs. .
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Chronicle (Levin), 13 July 1946, Page 5
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143TAX CUTS IN AUSTRALIA Chronicle (Levin), 13 July 1946, Page 5
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