GOOD SURPLUS LIKELY IN N.S.W. BUDGET.
(United Press Assn.—By Electric Telegraph.—Copyright.) SYDNEY, October 10. Mr Bavin will deliver the State Budget this evening. It anticipates an increase of £600,000 to £700,000 from income taxation, by the adjustment of new. rates, to be announced in a Bill for presentation to Parliament next month. It is estimated that there will be a surplus of £250,000. The Budget foreshadows financial reforms, reducing the taxation burden this year by over £1,000,000. The amended income tax starts at £250 for those without dependents. It is estimated that the revenue for the year will be £21,000,000, and the expenditure £20,766,000. The State public debt on June 30 amounted to £245,000,000, of which £1,300,000 will be extinguished this year. The Commonwealth Loan Budget, to be introduced separately later, will provide for an expenditure of over £14,000,000 in the current financial year. £4.500,000 of which is for main, roads.— Australian Press Association.
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Star (Christchurch), Issue 18586, 11 October 1928, Page 5
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154GOOD SURPLUS LIKELY IN N.S.W. BUDGET. Star (Christchurch), Issue 18586, 11 October 1928, Page 5
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