AUSTRALIA.

Timaru Herald, Volume CVI, Issue 16308, 9 August 1917, Page 7

AUSTRALIA.

WAR TAXATION

ADDITIONAL INCOME TAX.

(Australian and N.Z. Cable Assn ) Received 1.55 a.m., August 9th. MELBOURNE, August 8.

The Federal Treasurer announced that new taxation proposals included an additional income tax of ten per cent,, with a minimum of £lO each in the case of -widowers- without children and single men between 21 and 45 who have not enlisted. • The tax is expected to produce half a milliou in the present year, and the proceeds will he devoted to the repatriation of soldiers. The war-time profits tax is estimated to yield one million for the two years 1915-17. ESTIMATED RECEIPTS AND EXPENDITURE. The Treasurer.in his budget statement said the Federal receipts for the current year are estimated at £37,283,832, and the expenditure at £37,283,832 out of which £13,109,351 is devoted to war purposes from revenue. WAR LOANS. The war loans raised or to be raised are estimated at £70,253,590, and the war expenditure out of loans at £84,051.230. The total war expenditure, including this year's estimate, is £212,741,509, war pensions £2,637,168, repatriation one million. Provision will have to be made for raising £64,065,922 for war purposes. Beyond taxing eligibles no additional demands will be made for the present year.