MR. LANG RAISES TAX
FAMILY ENDOWMENT
SECURING READY MON^Y
(Received 11th May, 8 a.m.)
SYDNEY, 10th May. : ' In the Legislative Assembly the Premier and. Treasurer (Mr. J. T. ,Lang) introduced a Bill amending the Family Endowment Act by increasing the rate of taxation from 4.8 d in'the & to 5d in the £.- ; . -■••--?■'..,..■.
Mr;' Lang explained that the alteration was necessary owing to--the invasion of the State's resources by the Commonwealth Government, which had deprived the State Government of banking, facilities. L:-. a/ :,; ■•; ■- '■';
Mr. B; Stevens, Leader of the Opposition, claimed that under Mr. Lang's new method of assessing the. family endowment tax, which would be payr able with the wages tax, the Premier would :get command of at least £600,000 almost immediately. It was a trick which could only be worked once. The increased taxation would amount to a quarter of a million pounds.
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Bibliographic details
Evening Post, Volume CXIII, Issue 110, 11 May 1932, Page 7
Word Count
143MR. LANG RAISES TAX Evening Post, Volume CXIII, Issue 110, 11 May 1932, Page 7
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