AUSTRALIAN WAR TAXATION.
NEW INCOME TAX PROPOSALS
(Received Aug. G. 8.10 p.m.) MELBOURNE, Aug. C
Though official details arc lacking, it is understood that the income tax will press less heavily on the ratepayers than was anticipated. CndeJ a graduated scale, it ranges Rom -Id oiUiucomes of £157 to 5s on incomes of over £7750. Tims, an income of £2OOO, which is taxable at. Is Gd in the £l, instead of paving Is Gd on the whole, would pay on the graduated scale as the various percentages work out. On this basis, the tax on £7750 would amount to about 2s Gd in the £T. . ' . . As regards company dividends, it is understood that the shareholders v ill be taxed individually on dividends actual I v received, while the companies Will pay a tax on tho undivided balance. of profits.
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https://paperspast.natlib.govt.nz/newspapers/GIST19150807.2.45
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Gisborne Times, Volume XLV, Issue 4002, 7 August 1915, Page 5
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139AUSTRALIAN WAR TAXATION. Gisborne Times, Volume XLV, Issue 4002, 7 August 1915, Page 5
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