FEDERAL FINANCES
TAXATION EXEMPTION PROPOSALS. By Telegraph—Press Assn.—Copyright. MELBOURNE, August 19. The taxation exemption proposals of the Budget are expected to apply to the returns recently sent in. The Treasurer, in his speech, foreshadowed an increase in the general income tax exemption of £lO4 and £156 per annum to £2OO for all taxpayers. He also spoke of reduction in the existing graduated income tax rates by 10 per cent.; reduction in the companies’ flat rate from 2s 8d to 2s 6d; removal of ■ tho war surcharge of 80 per cent, on the land tax; removal of the entertainments tax where the price of admission is less than one shilling; reduction on the duty on galvanised iron, iron and steel wire, wirenetting, and tractors.
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Bibliographic details
New Zealand Times, Volume XLIX, Issue 11294, 21 August 1922, Page 5
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123FEDERAL FINANCES New Zealand Times, Volume XLIX, Issue 11294, 21 August 1922, Page 5
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