TAXATION IN AUSTRALIA

Nelson Evening Mail, Volume 78, 25 June 1943, Page 5

TAXATION IN AUSTRALIA

ALMOST AT SATURATION POINT NO POST-WAR CREDITS Canberra, June 24. Australian taxation was heavier than the combined taxation and post-war credits imposed by most other countries in the war, said the Treasurer, Mr Chifley, in the House of Representatives to-day. Mr Chifley said he believed taxation in Australia had almost reached saturation point, and added that the Government had no intention of introducing post-war credits. “We believe the maximum possible revenue should be obtained by taxation, and we will rely on taxation as far as it can be fairly and justly applied. Postwar credits would dry up a valuable source of voluntary loans.” Mr Chifley continued that the economy of Australia is being managed, better than that of any country in the world. While the cost of living in Australia had increased by 22J per cent, it had increased by 27 per cent, in the United Kingdom, despite the use of subsidies to the extent of £200,000,000 yearly. Mr Chifley added that the Government realised the inflationary tendencies caused by the increasing flow of bank credit when consumption goods were not available, and economic controls might have to be tightened still more as the war continued to meet the situation. —P A.