INCOME TAX CUTS

Grey River Argus, 30 January 1946, Page 5

INCOME TAX CUTS

For Australians ALSO REDUCTION IN DUTIES (Rec. 8.10) CANBERRA, Jan. 29 Another cut in income tax, at least equal to that made in the 1945-46 Budget ana’ possibly a greater cut, is expected in the Federal Budget coming down about August. In addition, the Government is expected to announce important excise concessions on consumer goods. Of these the most important are likely to be cuts in the duty on beer, tobacco, and petrol. If- these excise concessions are made, the Government will insist that they be passed on at once to the consumers.

Many of the Government’s economic advisers believe that a number of the Australian duties have now been raised considerably above the marginal level for maximum returns under normal conditions of free sale.