COMBINED TAXES IN AUSTRALIA
FEDERAL AND STATE (Rec. 6.30 p.m.) CANBERRA, Nov. 20. The Commonwealth Government will give relief to people and companies whose combined Federal and State income taxes exceed 18/- in the £l. The Assistant Treasurer, Mr H. P. Lazzarini, during the committee stage of the Income Tax Assessment Bill, will move to provide this. Mr Lazzarini said that if the combined Federal and State taxes amounted to 21/- for instance —14/- Commonwealth and 7/- State taxation the Commonwealth would grant relief of 2/- in the £l. The States would have to contribute their proportion of the tax relief so that the combined taxes would not exceed 18/- in the £l. The Government’s marriage tax proposals would be modified so that husbands and wives would pay tax on income at a rate appropriate to their combined incomes in excess of £2OO. For example, where a husband had a taxable income of £7OO and a wife £5OO, each would pay tax on their income at a rate appropriate to an income of £lOOO.
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Southland Times, Issue 24598, 21 November 1941, Page 9
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174COMBINED TAXES IN AUSTRALIA Southland Times, Issue 24598, 21 November 1941, Page 9
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