AUSTRALIAN SLUMP

Nelson Evening Mail, Volume LXIV, 12 March 1930, Page 5

AUSTRALIAN SLUMP

SUPER-TAX ON IMPORTS

RUMOUR CAUSES CONCERN

RUSH TO CLEAR BONDED GOODS

(United Press Association—By Eloctiio Telegraph—Oopyriglit)

SYDNEY, 11th March

An unprecedented rush by importers in Sydney, Melbourne and Brisbane to withdraw' goods from bond is taking place, owing to a report that tho Federal Government intends to impose a supertax on imports of petrol, timber, spirits, tobaccos, textiles and other goods. They are being released in large quantities, and it is expected that before (lie tax is imposed goods of a value of many millions sterling will have been withdrawn within the Commonwealth.

Whisky importers particularly are incensed. They claim that whisky is already an over-taxed commodity. It is understood that the tax will be known technically as primage. It will not bo applied to imports generally, and tea for example will be exempt. Petrol, motor bodies, car chassis, musical instruments, jewellery, furs, and all luxury lines will come within the scope of the tax. the emmediate effect of which will be a great reduction in Customs revenue. This in turn may lead to an increase in direct taxation.