TAX REDUCTIONS

New Zealand Herald, Volume 82, Issue 25299, 5 September 1945, Page 7

TAX REDUCTIONS

AUSTRALIAN DECISION ALL INCOME GRADES EARLY EASING OF BURDEN

SALES IMPOST TO BE OUT (Herd. 11.30 p.m.) CANBERRA. Sept. 4, An all-Youncl income tax cut of approximately 12| per cent was approved in principle by the Federal Cabinet. The reduction cannot be made immediately, but will be effected as soon as possible, probably in the new year. After discussing a suggestion that the concession should apply only to the lower incomes, the Cabinet decided that , I everyone should benefit. ; A reduction of sales tax was also decided on by the Cabinet. No decision was made on company taxation, but it is understood that the general feeling was that it also should be proportionately reduced. The Budget, which is to be introduced on Thursday, will announce the reductions decided on. A warning is given that it would be difficult to get the income tax reductions operating before the new year, but the Cabinet felt that the public should, be informed of the reductions the Government proposed. The sales tax is recognised by the Cabinet as having an important bearing upon the economic stability of the community and upon the community's capacity to absorb the thousands of men and women who will be released from the forces and from war jobs. This decided the Cabinet to endorse the principle that the sales tax should be reduced, leaving determination of the amount of the reduction until later. The Treasurer, Mr Chifley. warned the Cabinet that in spite of the cessation of hostilities Australia was still committed to spending huge amounts. Even a revision of the estimates resulted in only a small saving and it was not possible to make too sweeping reductions. TOLL OF THE WAR AMERICAN CASUALTIES KILLED NUMBER 252,885 (Reed. 5.35 p.m.) WASHINGTON, Sept. 3 The United States war losses in Europe and the Pacific are: 252,885 killed; 651.218 wounded; 43,969 missing; 122,747 taken prisoner. The war has cost 287,181,000,000 dollars, and 10,300,000 persons hava , been employed in the munitions irtdua-' , try alone. SEA SUPREMACY :i BRITAIN LOSES HER PLACE J AMERICAN NAVAL STRENGTH - (Reed. 6.80 p.m.) LONDON, Sept. 4 "The sea supremacy traditional to the ■ British people has at last passed elseL where," says the naval correspondent ] of the Sunday. Times. "The .numerical lead of the American over the British > Fleet is now too long to be overtaken and Britain can no longer compete with 8 America on the sea." ! Discussing the size of Britain's postH war fleet, the correspondent says tha problem is a "major naval issue." Hitherto there had always been a standard at hand on which to propose her e naval strength—essential defensive requirements for trade protection. More [' important, however, was the size of the 5 < fleet maintained by Britain's most likely e enemies. 5 " Whereas there were once formidable fleets possessed by America, Japan, Gerie many, France, Italy and Russia, with e Britain the most powerful, there was now only one fleet of any great importance left apart from Britain's, and that " was the fleet of an ally, America. The others had been either destroyed or outmoded. RELEASES FROM ARMY -IMPATIENCE IN BRITAIN c (N.Z.P.A. Special Correspondent) LONDON, Sept. 3 Demobilisation is the chief question in r " w.hieh the average man and woman in a Britain is interested today. The majority of men and women want to be de--1/0 mobilised as soon as possible, and they are needed urgently in industry to set the wheels of peace production going. The present rate is too slow for those er concerned, and, the recent statement in '■ v the House of Commons by the Minister 111 of Labour, Mr (J. A. Isaacs, is regarded ie as disappointing, and even depressing.

The Government so far has chosen to abide in the essentials by the scheme which was devised to cover the period between the defeat of Germany and the defeat of Japan, and there are energetic demands that it be changed. Five Socialist members have waited on Mr Isaacs to report on the popular feelings about the subject. It has since been stated that the entire question of demobilisation has been reviewed during the Parliamentary recess and that the Prime Minister, .Mr Attlee. may indicate the Government's plans for a speed-up. BRITAIN'S TRANSPORT NATIONALISATION PROPOSAL (Reed. 6.30 p.m.) LONDON, Sept. 4, The general council of the Trades Union Congress has expressed a wish that the Government should take over the main transport services of the country. It has prepared a nationalisation plan to present to the meeting of the T.U.C. in Blackpool next week The first step in the plan is for tho State to take over all the services which, during the war, have been under Government control. A national transport authority would be set up to do this and would be responsible for genera policy. This would bring together seven main services—railways, canals, longdistance road haulage, road passenger services, coastal shipping, docks and ports, and internal air lines. HITLER'S INCOME RECEIVED £660,000 A YEAH FRANKFURT, Sept. 0 Secret German Budget that Hitler was in receipt of an incom# of L'MO.OOO a year. f Hitler received enormous Minis tor royalties on his hook "Mem K^npf. Fverv German family was compel'*buy a copy of the book.but ja read it thoroughly is aa open qu