FEDERAL BUDGET

New Zealand Times, Volume XLIII, Issue 10086, 27 September 1918, Page 5

FEDERAL BUDGET

NEW TAXATION PROPOSALS COMPULSORY' INVESTMENT UN WAR LvANS. By Telegraph—Press Association —Copyright MELBOURNE, September 26. Mr Watt, in bis Budget Speech, s aid the estimated revenue for 1918-19, not including the additional taxation, which would - amount to' £5,356,000, was £39,219,591,.and the estimated expenditure . £45,344,595. .... The,... proposed additional income tax would yield "£2;2&a,ooo;'"’the'- ‘entertainment tax £275,000, postage £516,000, and Customs and excise £1,985,000. Ihe public debt rDWv..amount £284.,022,072. - ‘ c r . Outlining the proposed scheme for compulsory investment in war loans, Mr Watt said that it provided for a penalty- of twice the annual average income tax of non-subscribers, and the enforcamriatof the penalty did not ah solve* obligation to, subscribe the amount demanded. This measure would’ apply,.to the present war loan. Mr ” Watt concluded by remarking tbat Australia should be, congratulated on the general condition of finance, ■ production,—trade,—and—manufacture. No amount was included in the estimates for the bachelor tax. IMPOSITION- ON LIQUOR AND ! TOBACCO. MELBOURNE, September 26. Mr Watt has tabled the new schedule, of duties on liquors and tobacco. The duties on imported spirits have risen to 25s per gallon. Australian spirits will pay an excise tax of 24s a gallon, and beer 'ls &' gallon.'’imported tobacco will pay an increase of. 8d P er pound, cigarettes 2s, and cigars Is. The Federal Government has fixed the prices for liquor at those ruling on September Ist. BACHELORS AND WIDOWERS TAX UPON TJNENLISTED. ADELAIDE, September 26. In tho Legislative , Assembly,. the Treasurer, outlining. the,, taxation proposals, said an, additional tax, of £1 would be imposed on bachelors and widowers without dependents who had not enlisted, and whose incomes were over £IOO pef' hrfrfurri. ITALI AN^FEKONT CZECHOSLOVAKS TAKE PART IN - .FIERCE - BATTUE. Australian and N.Z, Cable 'Association. WASHINGTON, September 26. An -official"dispatch from’ Rome states that ‘CzechO-SloVak’ troops, fighting as a unit for the first time oh the Italian front, defeated- Gorinah ahd "Magyar ’ troops in a very fierce battle, which ended in a dagger charge. Signor Orlando, Premier-of Italy,, has congratulated the Czocho-Slpvak National Council. AMERICAN SHIPBUILDING THIRTEEN SHIPS COMPLETED ’ LAST WEEK. ; Australian ‘arid' N.Z. Cable' 'Asßociation, WASHINGTON, -September 25. " It i a officially announced that thirteen ships, of a total of 55,000 deadweight tons, were completed and livered by the Emergency Fleet Corporation during the week ending September 20th, six of steel and seven wooden and composite. sublarinFwar LOSSES, FOR AUGUST. LONDON., September 35. The Admiralty reports: —Tho total tonnage, of, British/. Allied,.,and neutral, merchant tonnage sunk,in, JLugust was 327,67,6,......0f ~„VE)iich.i „ tJie,.,British, ..tonnage was approximately 178,000, and that of other countries 150,000. Steamships exceeding 500 gross tons _ entering and leaving the United,.Kingdom from ’ and to overseas countries, excluding “coastwise and ' oross-Cfialihel services, "totalled 8.169,000 gross tons, compared with 7,719,000 tons in July. The losses in July were: British, 176,479-tons; foreign,- 136,532 tons; total, 313,001 tons.n.z. turkey COMPLETE OUTFIT PROVIDED BY HIGH COMMISSIONER. Australian and N/ Cable Association(Received September 26, 8.50 p.m.) • LONDON, September 26. Sir ‘TKSmiiV’Matl&enzie' a complete outfit of clothing' ahd additional blankets to Now Zealand prisoners in Turkey. VIRTUAL STATE OP WAR BETWEEN BRAZIL AND AUSTRIA. Australian and N.Z. Cable Association. (Received September 26, 7.25 p.m.) OTTAWA, September 25. The United Press Washington correspondent states that information hits reached’diplomatic circles that a virtual state of war exists between Brazil and Austria.” The* Brazilian Minister at Vienna has been recalled, while the Austrian Minister at Rio do Janeiro has also been recalled. SPANISH GSIPPE MANY- DEATHS IN UNITED STATES MILITARY CAMPS. Australian--and - N.Z: Cable, Association. (Received September 26, 7.50 p.m.) NEW YORK, September 25. Spanish grippe is prevalent in the military camps. There have been many deaths. . Tho closing of churches, schools, and theatres in Massachusetts has been suggested owing to tho spread of the epidemic. GERMAN WARSHIP SEIZED INTERNED" BY THE DUTCH. Australian and ‘ N.Z. Cable Association. (Received- September,.37, .1.6. a.m.) THE HAGUE, .September 26. Destroyers seized the German warship Nuromburg in Dutch territorial waters and interned her.