MR LANG'S NEW WAGES TAX.

Press, Volume LXVII, Issue 20274, 27 June 1931, Page 17

MR LANG'S NEW WAGES TAX.

11- IN £ MINIMUM. HOT ATTACK BY SYDNEY jf'fl NEWSPAPERS. assembly discusses bill. h'smo FSESS iSSOCTiTZOS—BV ELECTRIC [ ' TSLZGIUfH— COPTBIGHT.) (Received Juno 26th, 8.5 p.m.) SYDNEY, June 26. Mr J. T. Lang's tax schedule for the Emergency Income Tax Bill was disclosed in the Assembly to-day and is - «s follows: — j Weekly earnings. Taxatio® in the £. r £4 to £ a .. ..Is f:;' ■ £5 to £6 .. .. 2s £6 to £7 .. .. 3s £7 to £lO .. .. 4s £lO and upwards A flat rate of 5s : Aasessable income other than wages | will be taxed as follows: — laeome per annum. Taxation in the £. ! Under £260 .. .. Is £260 to £312 ... .. 2s £312 to £364 .. .. . 3s £364 to £520 .. .. 4s , , £520 and over .. .. 5s The tax on income other than income „ tsme. employment and on income from ' eonpanies is levied on the assessable income during the year ended June 30th, 1931, or other period accepted by the Commissioner of Taxes, provided the income is not leas than £2OB. Companies and individuals are repaired to' deduct from any money pay- , able to a person living ontside the State sufficient to pay the tax due on any diviimih or interest paid during 1930- . 19SL J „ Bill in Assembly. "" Mr Lang, when moving for leave to introduce the Bill, said the banks were 1 ■ vaable to lend the Government any more . Roney and the only alternative was to Af «et it out of the people. There would be ££ ; aqaality of hardship in the next twelve '] ' months, but he hoped they would emerge Sfc & * solvent state. The people should ' stake up their minds to contribute a ' - largo proportion of their surplus iny|, „ comes for the relief of the ever-grow-wny unemployed. pj £ f* Mr Bavin, Leader of the Opposition, Mr ling's Bill involved a capital f|p- Jovy of 25 per cent. Most companies I would have to find up to 10s 6d in the £,' and many would wind up. The 1 'scheme amounted to an economic revo*&vJatiom and had been introduced deliberjgy at«ly to break* down the plan evolved the Premiers' Conference. It wa® Igj&fgM basest ingratitude for Mr Lang to the banks had failed. The only bank ' had failed was the State Bank, be- 1 the Government had a large \\ - of the bank's money, which it ""'«Bld not pay back. Sydney Press Comment. "Sun," in * leader, s&ys: / *Sjfll|lteesfl community is stunned hy "l/fPnufip wage' tax proposals. Ofie of 1 will bo the immediate of many thousands of domesiers, and another will be an imeontraction in the retail trade, the terrific loss in spending This, crushing new impost will lepress the people and will also m any benefit likely to accrue e war debt moratorium, ydney "Morning Herald," in a article, refers to the wage tax confiscation of earnings and ! it is aimed at breaking the if employers and taxpayers it irdly have proceeded with iteps to end. The prorw wage levies will be accomTf an increased volume ?f in--r, by a doubled child eadowc and by motor taxation which »d. There is also likely to be ing away of* deductions on intation, either State or Federal It is impossible to avoid the m that Mr Lang means to pre- • crisis. Under the Lang rule ; seems "to be to demand allings of industry ii) order that be spent on .rations for everyd on the erection of yet more r&tive boards to supervise the Daily Telegraph" refers to Mr »ew plan as "Lang's crushing i shows that .persons earning year pay £lO7 a year in taxaresident of the Taxpayers' As- , Mr McKeller, said that taxes ligher incomes wero now about is £l. rs ftto of' the opinion that tho , seriously prejudice the proaversion Loan. , leal interests declare the tax ie more theatres to close, and manufacturers contemplate their businesses to Victoria. PASSES THROUGH ASSEMBLY. LE APPEAL TO BRITISH GOVERNMENT. SYDNEY, June 26. rage Tax Bill passed all stages .esembly/and was'then sent to slative Council. Lobby opinion if the Council rejects the eaxlv next week the Premier the event of the Governor reils assent, appeal to the Bri'ernment direct for assent.. Mr to have a precedent tor we . , . .. . jig's colleagues point out that ill does not become law it will isible to finance the public ser- | ad at the end , of June / i-ne j school teaehers, and the rail, ', and other Government will have to go without tneir IMIERS' PLANS ENDORSED. CONVERSION BILL PASSES. ALL-NIGHT DEBATE. sn ed June 26th, 7.45 p.m.) CANBERRA, June 26. > House of Representatives the inversion Agreement Bill was second time and passed by 41

votes to 15, after'ail all-night debate. Thirteen Government members and two of the Beasley faction comprised the minority division. This means' thai the whole of tho Premiers' Conference economy plan has Been endorsed, the Bills to follow merely make the plan operative.

A SAYING TO AUSTRALIA. BRITAIN'S* WAR DEBT CONCESSIONS. (Beceived June 26th, 9.5 p.m.) • LONDON, June 26. The "Morning Post" points out that the British Government's war debt concessions to the Dominions, together with the previous sinking fund* remission, should mean a saving of Australian expenditure and remittance abroad of £4,500,000, which) together with the contemplated' economies .and the saving of interest -on' the internal debt, should materially aid the Budget position; as well as Australian credit. -