FEDERAL BUDGET.

Star (Christchurch), Issue 12081, 9 August 1917, Page 4

FEDERAL BUDGET.

TAXATTON OF ELIGIBLES.

£70,253,590 TO BE RAISED BY LOAN.

By Tole^ra.ph—Press Association—Copyright MELBOURNE, August 8.

Tho Federal Treasurer announced the new taxation proposals. They include an additional income tax of 10 per cent, villi a minimum of £lO in each cas( of widowers without children and unenlisted single men of from 21 to 48 years. This is expected to produce £500,000 in the present year, and will ho dovoted to I lie repatriation of soldier*. The war time profits tax is estimated to yield £1.000.000 for thfl two years between 1915 and 1917.

Tho Federal receipts for tho current year aro estimated at £37.283,832 and the expenditure at £37,283,832, out of which £13,109.351 is to be devoted to war purposes from revenue. The war loans raised, or to lie raised, are estimated at £70.253.590. The war expendituro out, of loans is £84 ,051,230, and the total war expenditure, including this year's estimate, is £212,741,509. The war pensions amount to £2,637,168 and repatriation £1,000,000. Provision will have to bo made for raising £d1,0(J5,922 for war purposes. Beyond the taxing of eligible.s there will be no additional demands during tho present year.