GENERAL REDUCTION
Australian Tax Plan (I'jeeived September 5, 12.50 a.m.) CANBERRA, September 4. The all-round income tax reduction of approximately 12J per eent., which has been approved in principle by the Federal Cabinet, cannot be made immediately but will be effected probably in the New Year, After discussing a suggestion that the concession should apply only to lower incomes, the Cabinet decided that everyone should benefit. A reduction of the sales tax has also been decided on by the Cabinet. No decision was made on company taxation, but it is understood that tlie general feeling was that it also should be proportionately reduced. The Budget which is to be introduced on Thursday will announce the reductions decided on.
The Treasurer, Mr. Cliiflcsr. warned Cabinet: that in spite of the cessation of hostilities Australia was still committed to spending huge amounts, and it was not possible to make too sweeping reductions.
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Dominion, Volume 38, Issue 289, 5 September 1945, Page 8
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150GENERAL REDUCTION Dominion, Volume 38, Issue 289, 5 September 1945, Page 8
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