NEW TAXES IN VICTORIA

Taranaki Daily News, 26 September 1930, Page 7

NEW TAXES IN VICTORIA

BALANCING OF THE BUDGET AMUSEMENTS AND INCOMES TOTALISATOR TAX DOUBLED ANSWER MADE TO MR. LANG By Telegraph—Press Assn.—Copyright. Melbourne, Sept. 25. Mr. E. J. Hogan, Premier, in the course of his Budget speech, announced the following new taxation to enable the Government to balance the ledger: An increased entertainment tax, an additional Id in the £ on incomes from personal exertion, and 2d per £ on incomes from property and companies, which are expected to yield £326,600; an additional stamp duty of Jd on cheques; 6d stamp duty per £lOO on the transfer of shares; 100 per cent, increase on betting tickets; increased motor registration fbes and tobacco licenses; a further 25 per cent, on the registration of factories. Mr. Hogan anticipates that the additional revenue thus brought in will amount to £552,000, leaving a surplus of £143,000.

Mr. Hogan made a. reply to the contentions of Mr. Lang that New South Wales would be better off if separated from the Loan Council. Mr. Hogan said that the abolition of the council would result only in increasing interest rates and would thereby prove beneficial to investors and correspondingly injurious to the people of Australia. From this aspect alone the Loan Council completely justified its existence.