AUSTRALIAN COMPANY TAX
(Received November 25, 11.30 p.m.) CANBERRA, November 25. The Federal Treasurer, Mr. Chiffly, announce'd that a compromise on the wartime company tax had been agreed to. It would cost the Government about £OOO,OOO. Mr. Chiffly announced in the House of Representatives acceptance of the Opposition amend,meat to the Assessment Bill raising from four to live per cent, the base rate profit on which tax will operate. The Opposition leader, Mr. Fadden, reminded the House that the Government’s original plan for a standard rate of four per cent, would have defeated its own end, as it would have fallen most heavily on companies on which the Government was depending for a large proportion of the £157,(XX),000 to be raised before June 30 next year by voluntary means.
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Bibliographic details
Dominion, Volume 35, Issue 53, 26 November 1941, Page 8
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129AUSTRALIAN COMPANY TAX Dominion, Volume 35, Issue 53, 26 November 1941, Page 8
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