BETTING TAX.
REDUCED AT HOME. Scheme To Minimise Evasion. TOTE TAX UNFIXED. (British Official Wireless.) (Received 1 p.^i. - ) RUGBY, July 23. On the report stage of the Finance Bill, the Chancellor of the Exchequer, j ilr. Winston Churchill, moved a new clause, the effect of which was to reduce the betting tax from October 1 next. For credit betting the reduction is from .'U per cent, to 2 per cent and for course betting from 2 per cent to 1 per cent. He hoped the reduction in duty would add to the efficiency of the tax and that there would be less evasion. If a practical scheme of grading licenses were to be devised that scheme would supersede either in whole or in part. The reduced percentages rate of duty upon the totalisator had not been settled at the present moment, but as soon as the new body was constituted the Government would begin an examination with them and to see what was a fair proportion which they might properly take. The new clause was read a second time bv 199 to 11 and was added to the bill.
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Auckland Star, Volume LIX, Issue 173, 24 July 1928, Page 7
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189BETTING TAX. Auckland Star, Volume LIX, Issue 173, 24 July 1928, Page 7
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