NEW TAXATION.

Dominion, Volume 6, Issue 1841, 29 August 1913, Page 7

NEW TAXATION.

a TO MEET NEW SOUTH WALES DEFICIT. By Telegraph—Press' Association—Copyright (Rec. August 28, 8.10 p.m.) Sydney, August 28. Mr. J. H. Cami (Neiv South Wales State Treasurer) anticipates that the proposed new taxation will produce three-quarters of a million revenue. Tho proposals, however, aro contingent upon the present Government surviving tho elections, and will not be enforced during the life of the present Parliament. TheWw taxation proposals involve a revision of the inconio tax and stamp duties; taxatioui of company dividejuls ; 3d. in the £ whero tho incomo does not exceed ,£SOOO, and l lOd. in tho <£ on larger incomes; stamp duties to include 6d. per .£25 on. promissory nates, a penny stamp on cheques, 3d. and Gd. duties on initer-Statc steamer tickets,.ls. and 2s. Gd. . on oversea tickets, 2d. for roceipta of ,£5 and upwards, and 2s. per .flOfl on the capital of limited , liability companies; probato duties amended so tlrat estates up to tho value of .£IOOO will bo free, up to ,£SOOO, 2 per cent., rising with each i£looo to 4i per iCent.,- at .£IO,OOO, 7 per cent, at .£25,000., aiul an additional onethird per cent, for every <£5000 in tho larger estates, with a maximum of 15 per cent.; probablo alteration of tho present income tax for Hie exemption of .€3OO incomes.