INCREASED TAXATION.
SOUTH AFRICAN FINANCE. CAPETOWN, March 12. That the increased yield from taxation bears witness to a flourishing economic condition was the conclusion of the Minister of Finance in his Budget statement. The year closed with a credit of £BB,OOO instead of the expected deficit of £6,000,000. Fresh taxation to produce £8,500,000 includes a penny extra on petrol, beer and cigarettes; a motor-car sales tax of £7 10s on light cars and £l7 on heavy; a further 5 per cent, imposed on the gold mines’ contribution, yieldini'- £2.2-50,000; an alteration of the income tax system allowing for rebates on the full amount of the tax, whereby taxation starts at incomes of £340 instead of £4OO and bachelors pay threepence in the £> higher from £-oOU. The excess profits tax is increased to 13s 4d in the £.
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Manawatu Standard, Volume LXI, Issue 89, 14 March 1941, Page 5
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136INCREASED TAXATION. Manawatu Standard, Volume LXI, Issue 89, 14 March 1941, Page 5
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