Tax reductions
; Pay ' packets. will ■ be' r slightly fatter this ' week ■ With the. introduction of; personal income "fax cuts . from April 1? / Under legislation- passed ■ last-, December? hfter-tax personal' incomes wilßrise by.an average of $1 a week. The reductions, will affect people earning 'more than $4500 a year and are designed to benefit those
earning less, : than $11,500. • For . the taxpayer-on the 7 '“S” tax code who earns $lOO a week, the increase in disposable income will be $1.90 For one earning $2OO, the increase will be $l.lO. The reductions were expected to cut the Government’s tax take this year .. by about $l5O million, or by 3.3 per cent.
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Press, 31 March 1980, Page 6
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109Tax reductions Press, 31 March 1980, Page 6
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