FEDERAL BUDGET
MAKE ED IMPROVEMENT INCREASE IN REVENUE ESTIMATES EXCEEDED SURPLUS OF £1,301,616 By Telegraph—Press Association—Copyright (Received July 5, 9.35 p.m.) CANBERRA, July 5 The Commonwealth's finances at the end of the financial year disclose an improvement in the Budget ,of £4,269,000. This is chiefly due to an increase in customs and excise revenuo of £2,067,000. Sales tax totalled £896,000; estate duties, £381,000; land tax, £75,000; miscellaneous revenue. £205,000; and Post Office, £406,000. All these exceeded the estimates.
The flour tax, which was lifted recently, yielded £1,254,000 toward the £3,045,000 required to aid needy wheat growers.
The total expenditure for the year, including £3,045,000 for wheat relief, was £72,647,000, compared with an estimated expenditure of £72,801,000. The Assistant Treasurer, Mr. R. G. Casey, announced a surplus of £1,301,616.
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Bibliographic details
New Zealand Herald, Volume LXXI, Issue 21845, 6 July 1934, Page 11
Word Count
128FEDERAL BUDGET New Zealand Herald, Volume LXXI, Issue 21845, 6 July 1934, Page 11
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