CHANGE IN TAXES
AFRICAN WAR BUDGET REBATES WIPED OUT EXCESS PROFITS LEVY BIG YIELD FROM GOLD (Elen. Tel. Copyright—United Press Assn.) (Reed, Feb. 29, noon.) CAPETOWN, Feb. 28. • The first war budget presented by the South African Minister of Finance, Mr. J. H. Hofmeyer, wipes out the whole 30 per cent income tax rebate and reimposes the excess profits tax of 10s in the pound. The Minister has abandoned the appropriation of the gold proceeds above £7 10s an ounce and superseded it by a 9 per cent flat rate. It is anticipated that this will yield £3,500,000. A war expenses account of £14,000,000 is created.
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Bibliographic details
Gisborne Herald, Volume LXVII, Issue 20184, 29 February 1940, Page 5
Word Count
106CHANGE IN TAXES Gisborne Herald, Volume LXVII, Issue 20184, 29 February 1940, Page 5
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