SOME CONCESSIONS
IN AUSTRALIAN FISCAL LAW. INCOMES' OF HUSBANDS & WIVES. (By Telegraph—Press Association—Copyright! CANBERRA, November 26. Concessions granted by the Government on the budgetary legislation introduced this session will cost at least £1,500,000. The Ihcome Tax Assessment Bill was passed through all stages by the House of Representatives, after amendment. The principal amendment was a modification of the proposal to tax the incomes of husbands and wives at a rate based on the aggregate. The proposal to group husbands’ and wives’ incomes will not now apply where the wife’s income has been derived from her own personal exertion, or from properly which she holds in her own right. In these cases the incomes of husbands and wives will be assessed at the rate of tax applicable to each individual income. Where the husband* has transferred property to his wife the rate of tax applicable to the combined incomes will apply as previously set out.
An amendment providing that where combined Federal and State taxes on an income exceed 18s in the pound relief will be given by both the Commonwealth and the State was agreed to.
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Wairarapa Times-Age, 27 November 1941, Page 7
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186SOME CONCESSIONS Wairarapa Times-Age, 27 November 1941, Page 7
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