THE VICTORIAN DEFICIT.
O J :. •. ■•;-.■ », *i '** HOW IT IS TO BE MET. ? '■ United Preoi Aeaociation—By Electric J Telegraph—Copyright. v \ f (Received December 19th, 10.15 a.m.) *\] MELBOURNE, December 19---ll' , The Budget ahowe«a deficit of £953,000. |*7/T3» Qovenanent propones new taxation to V Uμ extent ot a quarter of a million,,; and ysk a levy oi the Bailwoy Accident Fnnd and Railway Suspense . Aceotttrt to the extent of £110,000. One faunl~> dred and eighty thousand poucda will be miaed by lowering the income tax exemp* tioja to £100 » year, and abolUhing it altogether on inoomee of over £500. At tJie ";■ latter euot the rat«t will be 5d and 9d in \ the} £oa incomes and property wepec- ,\ thely, with a further proportional increase t beyond £1000. The probate duties are expected to zcoitse an additional £70,000, • k «• the exemption will be reduced from X £1000 to £100, and the rate will be in- -• creased from 2 tto 3 per cent, on estates of / £5000 to £40,000. l> , i
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Bibliographic details
Press, Volume LIX, Issue 11461, 20 December 1902, Page 8
Word Count
165
THE VICTORIAN DEFICIT.
Press, Volume LIX, Issue 11461, 20 December 1902, Page 8
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