AUSTRALIA'S WORKLESS

Evening Post, Volume CIX, Issue 100, 30 April 1930, Page 13

AUSTRALIA'S WORKLESS

RELIEF BY INCOME TAX

VICTORIA'S SPECIAL

LEGISLATION

The Victorian Government's income tax'proposals for raising money to immediately relieve the prevailing unemployment were outlined in tho Legislative Assembly by the Treasurer, Mr. Hbga.ii, when introducing the Unemployment Eolief. Bill. The proposals,-briefly, are to raise approximately £.800,000 for the relief of unemployment by imposing a, special tax upon every person whoso taxable income was £1 or upwards during the year ended 30th June last. The taxis to opera to for one year only. Tho ordinary statutory exemption has been lowered from £200 to £100 in certain cases. The tax is payable on each £1 of the taxable income, and will be calculated, at the rates per £100 as follows: — ■ , . . Amount, of Taxable Income. Kates. From £1 to £1000 20/From £1001 to £1100 22/Froiii £1101 to £1200 > 24/- ---■ From £1201 to £1300 .... 26/From £1301 to £1400 28/----.From £1401 to £1500 .... 30/From£lsol to £1600 .... 32/From £1001 to £1700 .... 34/From '£1701 to- £1800 .... 30/From £1801 to .£I9OO 38/-.. £ 1901 and ovej.- 4% providedthat in tho case of any tax-payer'wh'oso-.taxable- inco.vic did not exceed £800 —(a) where t\s wife -otthe taxpayer wholly maintained by him had not an income of her own exceeding for the year ended .30th June, 1929, £1000; or (b) where the taxpayer, during that year, wholly maintained any child who at the beginning of that year was under the age of sixteen years—the tax shall be payable on each £1 of the taxable income and shall be calculated at the rates per£loo as follows: — Amount of Taxablo Income. La4cs. ■■Fiiom £1 to £500 ........ -10/- , :-, From: £501.t0 £600 I<VFrom £601 to £700 • IV■From . £-701 to £SOO ...... 10/- ---'■: Notwithstanding anything in the Act where a taxpayer would/ apart from clause- \ be liable to pay tax under the Act of an amount less than ss, the tas payable by that taxpayer shall be ss. The Treasurer said the Government had announced from the very first that it intended to .bring on the Unemployment Insurance Bill before this Bill, and it-still considered the. Insurance Bill was the.proper one-.to have been brought, forward first. Ho hoped' this Bill would be passed also, and that it would afford' the-speedy relief that so many members had talked about. Mr Hogan said it was proposed that the Bill should operate for one year and it "was estimated that it would raise £800,000. This money was to be paid into a special Unemployment Relief Works, Fund, and'all money spent out of'the.fund would be, upon unemployment relief. In order to reduce the cost ot eol.lecting tho tax, the Income Tax Department would attend to this phase. "Taxable income" meant the amount of income for the year ended -30th June, 1929 (whether from personal exertion or from property, or both) remaining after all deductions avowed by the Income Tax Act as modified. by this Act had been made. The number of income taxpayers for 1929-30 was 155 000, but the number of income taxpayers who would be brought under this Bill was estimated at. 600,000. A company would not be required t6:.furiiish returns of income in its own. be-1 half or bo liable to pay tho tax under this Bill in its own behalf. Persons whose gross income (whether from personal exertion or property, or both) for the year ended 30th June, 1929, amounted to £101 or upwards, and who had not' furnished a return previously,: would be required to do so in connection with this Bill. But persons who had already made returns or who^hacl already paid theirx income tax for ;I.MJ would not be required to make an additional return. ; ■ The Taxation Department would send out notices to taxpayers informing them of the amount of special tax clue, and those who had already paid thenincome ■ tax would- receive 14 days notice regarding the special tax, while those who had not already paid their income tax would receive 28 days notice regarding, the special tax. Under the Bill a married man whose income did not exceed £300, and a single man whoso income did not exceed £200, would be allowed a statutory exemption of £100 only instead of £200,_ as in the Income Tax Bill. A married man whose income was above- fcouu and a single man whose income - was above £200 would bfc allowed no. statutory exemption. ; ;. Tho. official estimate of the \ amount proposed to be raised by the- unemployment relief tax will bo derived as folJncomc7between £101 and£2oo,. £140,000 Incomes' bctweeu £2000 and inwards £ 100,000