TAX CONCESSIONS IN AUSTRALIA TOTAL 25 PER CENT
(N.Z.P. A. —Reuter—Copyright.) (10 a.m.) CANBERRA. Feb. 16. In a financial statement to the House of Representatives, the Prime Minister, Mr. J. B. Chifley, announced reductions in income tax and social service contributions totalling £36,500,000 which, he said, represented about 25 per cent, of the total amount at present paid by individuals. He added that certain entertainment tax concessions would be granted in respect of sports or games conducted by non-profit organisations. He added that from the revenue figures for the first seven months of the financial year, it was apparent that the budget estimate of revenue which was £493,000,000 would be exceeded. In Australia’s dollar problem, it was satisfactory to see that the restrictions imposed 15 months ago, combined with the efforts to expand Australia's own dollar exports promised to- bring Australia’s dollar trade in , merchandise close to balance for the financial year.
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Bibliographic details
Gisborne Herald, Volume LXXVI, Issue 22872, 16 February 1949, Page 7
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152TAX CONCESSIONS IN AUSTRALIA TOTAL 25 PER CENT Gisborne Herald, Volume LXXVI, Issue 22872, 16 February 1949, Page 7
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