INCOME TAX BILL
AIR THEODORE’S EXPLANATION,
(Australian Press Association)
(Received this day at 9.25 a.m.) CANBERRA, July 5. Moving the second reading of the speech on the Income. Tax Assessment Bill, the Federal Treasurer (Mr Theodore) explained the incidenc of taxation.- He said the rate of tax on foreign film corporations would be the ordinary - 1 company rate-of 14.4 d ■in the £l, and would only apply where profits exceeded 30 per cent of the gross takings. In Australia the film trade expresses the opinion that the new tax will produce roughly £27,000 per year and will -possibly mean an increased admission of charges. LONDON, July 4. Mr Theodore’s announcement that the tax on foreign films applies equally to British films simply mean a tax in favour of Americans.
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Hokitika Guardian, 5 July 1930, Page 5
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129INCOME TAX BILL Hokitika Guardian, 5 July 1930, Page 5
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