VICTORIAN BUDGET.
ANTICIPATED. SUPERTAX ON INCOMES. (Received September 2. 12.5 a.m.) MELBOURNE, Sept. 1. The Premier of Victoria, Mr. E. J. Hogan, in the course of his Budget speech to-day, said he estimated that the deficit, in spite of recent economies, would amount to £1,536,000 at tho end of the current financial year. As ifc was impossible to effect further economies, the Government found it essential to raise additional revenue to the extent of £715,000. This would be accomplished by tho transfer of 20 per cent, of the motor registration fees to revenue, and by a 25 peir cent, super-tax on the existing income tax rates, and also higher probate and stamp duties. Mr. Hogan said the deficit was caused by the heavy falling off in railway earnings, the losses on soldier and civilian settlement schemes, and tho high exchange rates.
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New Zealand Herald, Volume LXVIII, Issue 20967, 2 September 1931, Page 11
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141VICTORIAN BUDGET. New Zealand Herald, Volume LXVIII, Issue 20967, 2 September 1931, Page 11
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