STATE FINANCES

Evening Star, Issue 21099, 11 May 1932, Page 7

STATE FINANCES

NEW SOUTH WALES PREMIER'S LATEST PLAN Press Association —By Telegraph—Copyright. SYDNEY, May 10. In the Legislative Assembly the Premier and Treasurer (Mr 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 resources of New South Wales by the Commonwealth Government, which had deprived the State Government of banking facilities. The Leader of the Opposition (MrStevens) claimed that under Mr Lang’s new method of assessing the family endowment tax, which would bo payable with the wages tax, the Premier would get command of at least .£600,000 almost immediately. It was a trick which could be worked only once. The increased taxation would amount to £250,000. £50,000 HANDED OVER. AMENDMENT TO ENFORCEMENT ACT. SYDNEY, May 11. (Received May 11, at 10 a.m.) The Commercial Banking Company of Svdney has banded over to the Commonwealth £50,000, the property of the State Government. The House of Representatives passed a Bill further amending the Enforcement Act. The. measure exempts from the provisions of the Act money for superannuation, widows’ pensions, and family endowment. It also protects from victimisation State officers who carry out the Commonwealth law.