AUSTRALIAN BUDGET.
DOUBLE TAXATION HARDSHIP* SUGGESTION FOR ECONOMY. By Telegraph.—Press Assn.—Copyright. Melbourne, Sept. 30. Sir Joseph Cook’s proposals include the adoption of a scheme recommended by the British Royal Commission fwr the elimination of double taxation, within the Empire. Among other relief proposals is exemption from incometax to company shareholders in respect of distribution, whether in cash or shares of value representing the profit on the sole capital assets. Dealing with economy, the Budget stated that a convention was being called with the view of overcoming the duplication of the Federal and State taxation departments, which, involved great waste and inefficiency. The estimates include £250.000 for immigration £200,000 towards the Federal capital, £420,000 for air services development work. The government of New Guinea under the mandate powers is being thoroughly established.
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Taranaki Daily News, 1 October 1921, Page 3
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131AUSTRALIAN BUDGET. Taranaki Daily News, 1 October 1921, Page 3
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