AUSTRALIAN FINANCES

Wanganui Chronicle, Volume LXXXIII, Issue 20127, 21 April 1928, Page 8

AUSTRALIAN FINANCES

NEW SOUTH WALES SURPLUS DIRECT TAXATION REVENUE. (A. & N.Z.) SYDNEY’, April 20. The Budget showed that the revenue for the year ended June. 1927, totalled £44.261.039 and expenditure £42,802,107. leaving a surplus of £1.458,932, due mainly to the large increase in receipts from direct taxation, which totalled £3.079,000, an increase of nearly 35 per cent, compared with the previous year. Suspension of the collection of the family endowment tax will be extended for a further six months, and should it then be decided to continue this means of raising the necessary funds, a tax of approximately from 1 to 11 per eent. will suffice, instead of the 3 percent. imposed by the Lang Government. The Assistant-Treasurer concluded that while the general outlook was extremely bright and such as to inspire the utmost confidence, the Government d’d not intend to indulge in extravagant and unnecessary expenditure for reactionary effects would ensue. Jf would exercise ihe strictest economy in the administration services of the Government. DEFEATED THE CENSURE MOTION. (A. & N.Z.) SYDNEY, April 20. Ju the Assembly Air Lang 's censure motion was defeated bv 44 votes to 39.