TAX REDUCTION.

Press, Volume LXI, Issue 18460, 14 August 1925, Page 10

TAX REDUCTION.

* ' AUSTRALIAN BUDGET. FEDERAL AND STATE DEPARTMENTS. (AUSTRALIAN AXD X.Z. CABLE ASSOCIATION.) (Received August 13th, 9.5 p.m.) XEI.BQURXE, August 13. In the House of Representatives, Dr. Earle Page delivered the Budget. The State revenue last year amounted to £68,554,809 and expenditure to £64.'240,'230, leaving a surplus of £4,C09,029. Of the surplus, £'l,oCo,ooo will lie used for debt redemption, £1.000.000 for naval construction, and £750.000 for the main roads development. Dr. Page said that after considering the expenditure to be met out of revenue, the Government found it would be able to make concessions under most heads of direct and indirect taxation.^ The estimated expenditure for 19232G is £57,455,586 and the revenue £57.574,300, to which is added £659,529 brought forward from the previous year, making the estimated accumulated surplus £775,243. The gross Commonwealth debt at the end of June last was £430,947,592 and the State's debts £592.202,487, and when added to the Commonwealth debt, these make a gross total for Australia of £967,197,097, or £165 per head of population. Dr. Page said that after considering the expenditure to be met out of revenue, the Government would; submit suwestions to Parliament for relief to tlicTextent of £750,000 in indirect taxation of £1,400,000 in income taxation and £360,000 in entertainment tax. The promised income-tax reduction means that the tax is reduced 12£ per cent", compared with last year. Dr. Page concluded that public credit had improved both at home and overseas and a bright and happy future was assured.