TAXES IN AUSTRALIA
FEDERAL AND STATE SOME RELIEF GRANTED (United Press Assn.—Elec. Tel. copyright) (Received Nov. 20. 3.15 p.m.) CANBERRA. Nov. 20 The Commonwealth Government will give relief to people and companies whose combined Federal and State income taxes exceed 18s in the pound. The Assistant Treasurer, Mr Lazzarini, during the committee stage of the Income Tax Assessment Bill, will move to provide this. Mr Lazzarini said the combined Federal and State taxes amounted to 21s —for instance, 14s Commonwealth and 7s State, and the Commonwealth would grant relief of 2s in the pound. The States would have to contribute their proportion of tax relief, so that the combined taxes would not exceed 18s in the pound. The Government’s marriage tax proposals would be modified, so that husbands and wives would pay tax on income at a rate appropriate to their combined incomes in excess of £2OO. For example, where «i husband has a taxable income of £7OO and the wife £SOO each would pay a tax on their income at the rate appropriate to «ui income of £IOOO.
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Waikato Times, Volume 129, Issue 21583, 20 November 1941, Page 6
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179TAXES IN AUSTRALIA Waikato Times, Volume 129, Issue 21583, 20 November 1941, Page 6
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