SURPLUS EXPECTED
THE N.S.W. BUDGET INCOME TAX CHANGES SYDNEY, October 10. Mr Bavin delivered his State Budget this evening. It anticipates an increase of £600,000 to £700,000 frqm income taxation by the adjustment of new rates to be announced in a Bill for presentation to Parliament next month. It is estimated there will be a surplus of £250,000. The Budget foreshadows financial reforms reducing the taxation burden this year by over £1,000,000. The amended income tax starts at £250 for those without dependents. The estimated revenue for the year is £21,000,000 and the expenditure £20,766,000. The public debt on June 30 amounted to £245,000,000, £1,300,000 whereof would be extinguished this year by arrangement with the Commonwealth. The loans Budget, to be introduced separately later will provide for an expenditure of over £14,000,000 tor the current financial year, including £4,500,000 for main roads.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/PBH19281011.2.81
Bibliographic details
Poverty Bay Herald, Volume LIV, Issue 16772, 11 October 1928, Page 7
Word Count
142SURPLUS EXPECTED Poverty Bay Herald, Volume LIV, Issue 16772, 11 October 1928, Page 7
Using This Item
The Gisborne Herald Company is the copyright owner for the Poverty Bay Herald. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of the Gisborne Herald Company. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in