NEW SOUTH WALES
FINANCIAL REFORMS REDUCTION IN TAXATION. Press Association—By Telegraph—Copyright. SYDNEY, October 10. Tho Budget foreshadows financial reforms for reducing the taxation burden this year by over £1,000,000. Jho amended income tax will start au for those without dependents. It is estimated that the revenue for the year will be £21,000,000, and tho cxperdituro £20,766,000. Tho State public debt at Juno 30 amounted to £215,000,000, £1,300,000 of which will hi extinguished this year. The Commonwealth Loan Budget, which is to be introduced separately later will provide for an expenditure of ever £14,000,000 during the current financial year. £4,500,000 of which willl bo for main roads. BUDGET SURPLUS. Press Association —By Telegraph Copyright. SYDNEY. October 10. Mr T R. Bavin will deliver the State Budget this evening. It anticipates an increase of £600,000 to £7(10,000 from income taxation by the adjustment of tho new rates to be announced in the Bill which will he presented to Parliament next month, it is esimatod that there will bo a surplus of £250,000.
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Bibliographic details
Evening Star, Issue 19994, 11 October 1928, Page 4
Word Count
170NEW SOUTH WALES Evening Star, Issue 19994, 11 October 1928, Page 4
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