FINANCIAL REFORMS
NEW SOUTH WALES BUDGET. (Rec. 11.50 p.m.) Sydney, October 10. 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 State public debt on June 30 amounted to £245,000,000, £1,300,000 of which will be extinguished this year. The Commonwealth Loan Budget to be introduced separately later will provide an expenditure of over £14,000.000 for the current financial year and £4,500,000 for main roads.—Aus./alian Press Association. TAXATION REVENUE. (Rec. 10.35 p.m.) Sydney, October 10. The Premier, Mr Bavin, delivers the State Budget this evening. It is anticipated that there will be an increase of from £600,000 to £700,000 from income taxation by the adjustment of new rates to be announced in the Bill for presentation to Parliament next month. It is estimated that there will be a surplus of £250,000. —Australian Press Association.
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Southland Times, Issue 20613, 11 October 1928, Page 7
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162FINANCIAL REFORMS Southland Times, Issue 20613, 11 October 1928, Page 7
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