HEAVY TAXATION
NEW SOUTH WALES BUDGET DEFICIT OF £1,512,000 SUPER-TAX 1/- IN £ (United Press Assn.—Elec. Tel. Copyright) SYDNEY, Sept. 26 After providing for a heavy increase in taxation the New South Wales Treasurer, Mr A. Mair, who delivered the Budget tonight in the State Assembly, estimated that the net deficiency would total £1,512,000. Company tax is to be increased from 2s 3d to 2s 6d in the £, and individual income tax by 8 per cent. There will be a super tax of Is in the £ on taxpayers’ income exceeding £2OOO. Taxation on motor vehicles is to be increased by 12£ per cent. In addition to the increase in private income taxation there is a substantial increase in the taxation on wages. TAXATION INCREASES TOTAL OF £3,900,000 (United Press Assn.—Elec. Tel. Copyright)
(Received Sept. 27, 12.30 p.m.) SYDNEY, Sept. 27
In the new Budget proposals the bookmakers’ betting tax is increased from one-quarter to one-half per cent on the turnover. Increased revenue will also be derived from probate, death and stamp duties. The total taxation increases amount to £3,900,000.
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Waikato Times, Volume 125, Issue 20920, 27 September 1939, Page 9
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178HEAVY TAXATION Waikato Times, Volume 125, Issue 20920, 27 September 1939, Page 9
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