Australian Profits Reduced By Taxation
CANBERRA, This Day
A war tax review issued by the Department for Information shows that nearly half the profits of Australian companies is now being taken in. Income tax has been so sharply increased that to have a clear income of £SOOO a man must earn £52,000 yearly. The war to date has cost Australians £lB6 a head.
Due to war stimulus, gross profits of companies have risen 36 per cent, since the war began, but profits after taxation are 9 per cent, below the 1939 level.
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Northern Advocate, 17 January 1944, Page 4
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92Australian Profits Reduced By Taxation Northern Advocate, 17 January 1944, Page 4
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