LOWER TAXATION

Hokitika Guardian, 17 October 1933, Page 8

LOWER TAXATION

SOUTH AFRX’AfN ANTICIPATION

•CAPETOWN, October 14

There is every indication that the South African Government will be able to reduce taxation in various respects next year. The Government revenue is increasing ste r -dily ) and although it * s very early' to anticipate the state of the. Budget■ at the, end of the financial year, there is reason for thinking that there W'Tl be a substantial surplus. The Witwatersrand gold mining industry will be almost entirely responsible fo.r such a h ppy state of affairs, for the £6,000,000 extra taxation on the mines will completely wipe out the accumulated deficit of the past years. It' is believed that the taxation that will come .under review for reduction will be the income tax and stamp duties. Income tax will most likely go back on the old basis, whereby married men earning under £SOO will be exempted;

The question of penny postage is certain to come up for consideration, and if the present state of the (country’s finances continues, this reduction may be expected. The increased duty on cheques, etc., is also likely to be reviewed at the same time.