COMING IN AUSTRALIA
EVERYONE TO BENEFIT
CANBERRA, September 4. An all-round income tax reduction of approximately' 121 per cent., which has been approved in principle by the Federal Cabinet, cannot be made immediately but will probably be effected 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 Cabinet. No _decision was made on company taxation. but it is understood that the general ! feeling was that it also should be. proportionately reduced. The Budget which is to be introduced on Thursday will announce the re- ! ductions decided on. The Prime Minister and Federal Treasurer, Mr. J. B. Chifley, 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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Bibliographic details
Evening Post, Volume CXL, Issue 57, 5 September 1945, Page 7
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152COMING IN AUSTRALIA Evening Post, Volume CXL, Issue 57, 5 September 1945, Page 7
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