FEDERAL FINANCE
SURPLUS FOR LAST HALFYEAR •J / , * INCREASED REVENUE ■ FROM TAXATION By Telegraph.—Press Association. ... Kec. February 10, 5.5 p.m.J/ Melbourne, February 10. The accounts of the Federal Treasury lor the half-year ended December 31, show a surplus of approximately £330,000. The expenditure for departments . and services, other than business undertakings and territories, totalled £20,787,808, compared with £20,192,436 for the corresponding period of the previous year. The largest increase involved was old-age pensions, where the expenditure was £478,307 in excess of last year. Export bounties and export control represented an increase of £108,210, and defence and reparation a decrease of £103,880. Interest on war loans amounted to about £5.000.000. The revenue from the same services • totalled £26.002,660, compared with £24,986,432, of which the increase . in taxation accounted for £430,735. Income tax realised £424,204 less, owing mainlv to the reduction in arrears. Coinage showed an increase of £211,435, ‘ mainlv due to replacing British silver coin from circulation. The Commonwealth railways showed : a deficit of £199, 497, against'a deficit of £254.998 for the previous year. The a deficit of £199,497, against a deficit against a deficit of £236,594 last year.— Press Assn.
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Bibliographic details
Dominion, Volume 19, Issue 117, 11 February 1926, Page 8
Word Count
189FEDERAL FINANCE Dominion, Volume 19, Issue 117, 11 February 1926, Page 8
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