AUSTRALIAN FINANCES.

Otago Daily Times, Issue 21021, 9 May 1930, Page 10

AUSTRALIAN FINANCES.

TARIFF AND TAXATION. (From Our Own Correspondent.) . . ' SYDNEY, May I. One of the Sydney Sunday papers published <iuite an imposing list.of names of firms who propose cither to launch out in Australia or to extend local operatjpns, as a result of the new tariff. This ought to take some of the prospective sting out of the tariff, for, if politicians are to be believed, the new duties mean that about £30,000,000 worth of goods will be excluded from imports. If, then, the fall in Customs revenue is in the region of £0,000,000, it is difficult to see how it can he made up without'more direct taxation. Already, owing to the reduced earning power of the community, available taxable income must be depicted. It might easily mean doubling the present rate of tax to •mike good the fall in Customs revenue. About this aspect of taxation, as about most things, the Federal Treasurer (Mr Theodore) says nothing, but the position may not bo as bad as it is prophesied if there is a big inflow of new capital and now industry.