LABOUR REACTS.
TAX INCIDENCE. Will Attempt To Force Revision Of Budget. United Press Associntton.—Copyright. (Reed. 1.30 p.m.) SYDNEY, thw day. To finance Australia's wartime Budget of £276,000,000, wage and salary earners will pay from three to 13 times more Federal tax than they paid last year. The statutory exemption, reduced from £250 to £150, vanishes on salaries of over £300. The tax, which leaps from £5 on a single man's incomeof £200 a year to £147 on a single man's income of £1000 a year, must bo paid within six months. A man on a salary of £5000 a year with a wife and child will pay £1633 in Federal tax and £2466 in combined Federal and State incomes and wages taxes. _Mr. Curtin, Labour leader, stated that his party would ask Parliament to restore the statutory exemption to £200, to review the incidence of taxation on* higher and lower tax groups and company tax on large and email companies re»pectively. He will move for a postponement of the first item of the Estimates in an attempt to force a revision of the Budget. Mr. Fadden was booed by Labour members when he outlined the new scales of taxation. There were shouts of "Shame!" and "Barefaced robbery!"
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Auckland Star, Volume LXXI, Issue 283, 28 November 1940, Page 8
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207LABOUR REACTS. Auckland Star, Volume LXXI, Issue 283, 28 November 1940, Page 8
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