N.S. WALES BUDGET

Stratford Evening Post, Issue 55, 11 October 1928, Page 6

N.S. WALES BUDGET

SURPLUS EXPECTED.

TAXATION ADJUSTMENT. SYDNEY, October 10. The State Budget will he delivered by the premier, Mr T. R. Bavin, this evening. It anticipates an increase of £600,000 to £700,000 from income taxation by an adjustment. The new rate is to be announced in a Bill toy presentation to Parliament nex month. It is estimated there will he a surplus of £250,000. _ ' The Budget foreshadows financial reforms and reductions in th e taxation burden this year by over £l,000,000. The amended income tax stands at £250 for those without de-

pendents. The estimated revenue for tli e >’ Gar is £21,000,000, and the expenditure £20,760,000. The State public debt at June 3 amounted to £245,000,000, of which £1,300,000 will h e extinguished this year by arrangement with th e Commonwealth. A loan budget to be introduced separately later will pi°vi de expenditure of over £14,000,000 in Die current financial year. Of that amount £4,500,000 will bo for main reads. _