FEDERAL TAX PROBLEMS

Taranaki Daily News, 1 August 1930, Page 11

FEDERAL TAX PROBLEMS

BUSINESS WORLD CONFUSED AUSTRALIANS STILL IN DARK. OUTSPOKEN IN CONDEMNATIONS. By Telegraph—Press Assn.—Copyright. Rec. 8 -p.m. Sydney, July 31. Extraordinary confusion prevails in the business world concerning the effect and incidence of tho Federal sales tax. Manufacturers, wholesalers and retailers are trying frantically to ascertain exactly how they are affected by the tax, which involves a method of raising money altogether new in Australia, but they can be given no information of a reliable character. Businessmen are very outspoken in their condemnation of the crushing burdens aiid bewildering problems. EXPECTATSONS FROM TAXES. : THEIR DURATION INDEFINITE. Canberra, July 31. Mr. J. H. Scullin stated that the sales taxation proposals were to provide for fipancing. ‘‘l cannot- predict’ how. long it will last,” he said. “We have to face the fact that we cannot continue to enjoy the revenue derived from importations, which were artificially created by borrowing money. It is much more sound to impose indirect taxation on the goods sold in our own. country than to depend on the importation of •goods.. ; As time goes on we hope to reduce the rates of tlie tax and increase tfie Exemptions. It lias been computed that the value of sales in Australia is about £500,0'00500'0. This tax will apply to about half that amount,”