STATE FINANCE.

Dominion, Volume 4, Issue 948, 15 October 1910, Page 5

STATE FINANCE.

« 'THE VICTORIAN ESTIMATES. By Telegraph—Press ABSociation-Oopyriglit. Melbourne), October 14. •v The Stato-Treasurer, in; his Budget;: delivered yestorday, 'estimated ,tte rev-; enue for the current year at £8,964,665, and the expenditure at £8,940,277. - The Treasurer announced that it was proposed, to introduce a land tax 'of three farthings.in' the £on unimproved values, with exemptions of £500 on rural lands, and of *£800 on urban landß. It was expected the tax would yield V V^VV; ■ It was also proposed to amend the income tax by abolishing the rebate of' 20 per centum. ..This was expected to yield £44,000, making the total new revenue from additional taxation a quarter of a million. . • .>■ The Treasurer foreshadowed extensive i port improvements, and inoreases of salaries to low-paid Civil Servants— £20,000 of .the'surplus; is earmarked for ' the'last-named purpose. • \ "1 A PROSPEROUS STATE, (Rec. October 14; 8.30' p.m.) Mclbourno, October 14. The State Treasurer, stated that tho population; .of Victoria last year increased by 24,244. Bank deposits increas'cd by £3,186,000 Tho wheat barvest was valued at five and a half millions, an increase .of a million; tho wool clip was valued at £4,05-1,765, an increase, of half a; million, 'and the frozen and perishable products exported amounted 1 to £2,472,752, an increase of nearly a million. i TASMANIA'S BUDGET. Hobart, October 14. I The Stato Treasurer has delivered his .Budget inthe Assembly. The year's revenue amounted to £1,008,932, which is £54,320 above tho estimate; the' year ending with a surplus of £11,611. :; The estimated revenue for the current year is ■ £980,416, 1 and the expenditure £1,013,161. ; The Government.proposed & new land tax on unimproved values' of a penny in the pound up to 2,500,' increasing gradually;to 2id. for over 8000. -It is expected the tax will yield £71,000.

Income tax rates aro to be altered to a shilling in tho pound on incomes from' companies, while they will range from fourponco to a'shilling;- on personal incomes from business, and' a shilling on property, ■: with' an . exemption on . incomes under £80 a year. A deduction of . 2s. 6d. for each child under the age of sixteen will bo allowed where incomes are under £160 per annum.