CAPE WAR BUDGET

Grey River Argus, 14 March 1941, Page 5

CAPE WAR BUDGET

RISE IN TAXES (Received March 13, 10.15 p.m.) CAPETOWN, March 12. The South African Minister of Finance announced fresh taxation to produce eight and a half millions. This includes one penny extra each on Petrol, beer and cigarettes. The motor-car sales tax is to be £7 10s on light cars, and £l7 on heavy cars. A further five per cent, is imposed on the gold mines contribution, yielding two and a quarter millions. The Government is altering the income tax system. It is allowing rebates on the full amount of tax. by which’ process taxation now starts with incomes of £345, instead of £4OO as before. Bachelors are to pay threepence higher from £3OO, The excess profits tax is increased to 13s 4d in the pound. The Minister said he refused to promise a new heaven and a new earth after the war. He preferred to indicate the difficult iroad of personal .sacrifice and dedication. That an increased yield in taxation bears witness to a flourishing economic condition was the conclusion of the Minister in his statement The year closed with a credit of £BB,OOO, instead of an anticipated deficit of six millions.