FEDERAL FINANCE

Hokitika Guardian, 11 April 1932, Page 6

FEDERAL FINANCE

DEFAULT TOTALS TWO MILLIONS

(Australian Press Association.)

CANBERRA, April 11

It is expected that the proclamation will be issued to-day, specifying the State revenue from Racing Clubs shall be paid to the Commonwealth instead of to the State.

It Ms"’stated in political circles that the Commonwealth Government will issue a further proclamation, bringing into operation penalty clauses to the Financial Enforcement AJct. Lef.aiult to the Commonwealth by New South Wales, totals £2,021,390, according to a certificate furnished by the AuditorGeneral to this effect.

NOTICE GIVEN TO ALE BANKS

N.S.W. MONEYS TO BE CEDED

CANBERRA, April 11

All banks in Australia will be required, forthwith, to hand over to the Commonwealth any -moneys held on behalf of the New South Wales Government. Notice t-0 that effect has been sent out by the Commonwealth Government, under the provision of the financial Enforcement Act. The notices cover also any moneys received by banks while the “Garnishee” proclamation was in force. A meeting of the executive council will be held in Melbourne °n Moms.;, at which regulations will be -to, calling on State officials to nK.se available to the Commonwealth, all documents relating to income taxation, both State and Federal. It is officially announced that the Commonwealth received £22,000 from State income taxation under the Enforcement Act.

A special gazette issued at mill night empowers the Commonwealth fo attar;’:] £l-362,340 in additional State revenue.