"UNPRECEDENTED"
EXAMPLES OF RATES
(Received November 28, 1.30 p.m.)
CANBERRA, This Day. To finance Australians wartime Budget of £276,000,000, taxation rates unprecedented in Australia's history are imposed. Wage and salary earners will pay from three to thirteen times more Federal tax than they paid last year. The statutory exemption is reduced from £250 to £150, and vanishes on salaries over £300. The tax, which leaps from £5 on. a single man's income of £200 a year to £147 on a single man's income of £1000, must be paid within six months. A man on a salary of £5000 a year, with a wife and a child, will pay £1633 in Federal tax and £2466 in combined Federal- and State incomes and wages taxes. Mr. Curtin, Leader of the Opposition, stated that his party would ask Parliament to restore the statutory exemption to the £250, and to'review the incidence of taxation on the high and lower tax groups and the company tax on large and small companies. 'He will move for a postponement of the' first item of the Estimates in an attempt to force a revision of the Budget.
Mr. Fadden, Federal Treasurer, was hooted by Labour members when he outlined the new scales. of taxation and there were shouts of "Shame" and "Barefaced robbery."
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/EP19401128.2.123.4
Bibliographic details
Evening Post, Volume CXXX, Issue 130, 28 November 1940, Page 13
Word Count
215"UNPRECEDENTED" Evening Post, Volume CXXX, Issue 130, 28 November 1940, Page 13
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