BUDGET REVEALS NEW INCOME TAX AND DUTY SHIFTS
The budget introduces a new income tax system with rates from 20 cents in the dollar up to five pounds per thousand, and a 540 dollar rebate for all taxpayers. Concessional allowances rise for dependents, with a separate 200 dollar sole parent rebate. Excise duties on beer spirits cigarettes and tobacco rise, while petrol and oil levies are planned. Public spending outlines include health education housing and social security with notable increases to Medibank and pensions.
ACT Budget Tightens Services While Hikes in Fees Loom
The Federal Budget for the ACT imposes higher charges with restricted services. Bus services rise while some remain cut. government housing rents increase though maintenance funding stays tight. Housing loans via the Commissioner for Housing are expected to be smaller, and the National Capital Development Commission’s works program drops to about half of last year. Budget papers note staff growth may be capped, with payroll and overtime allowances up slightly. Social welfare benefits rise to 339000 from 215000 to meet rental rebate demand, and cultural and community funding increases to 355000. A 1.44 million loan is set for a 200 bed YMCA hostel in Bruce, and Canberra Tourist Bureau funding grows to 120000.
MENTIONED IN THIS ARTICLE
A.C.T
NCDC
Bryant
Medibank
Albury-Wodonga
Bathurst Orange
South-West
Sydney
Papua New Guinea
The
Capital Territory
Mr &Bryant
National Capital Development Commission
Department of the Capital Territory
YMCA
Bruce
Canberra Tourist Bureau
Poe Jayden
Vandalism cancels third England Australia Test at Leeds
In Leeds England the third cricket Test was abandoned after vandals dug holes and spread oil on Headingley pitch. Graffiti linked to a campaign against prison terms for a man named Davis appeared, while captain Tony Greig and Australian skipper Ian Chappell voiced disappointment as Australia retained the Ashes.
MENTIONED IN THIS ARTICLE
Leeds
England
Australia
Justice
Davis
BBC
Themere
Tony Greig
Tan Chappell
Greig
Sam Wide
Airline delays fuel and navigation charges ripple travel costs
A spokesman for Ansert Air lines said rising fuel prices and navigation charges would likely be passed to the travelling public. Even public servants in economy class could see higher fares as airlines cope with increased expenses.
MENTIONED IN THIS ARTICLE
Ansert Air Lines
Budget raises taxes and cuts spendings amid inflation
The government announced a new tax system with higher duties on beer spirits cigarettes and petrol. A levy on crude oil could raise petrol prices by 6 to 10 cents a gallon. The budget overhauls personal income tax to ease the burden and reduce PAYE revenue. industry support is slashed while company tax falls 2.5 percent. Deficit financing remains unclear as inflation and unemployment linger into 1975-76.
MENTIONED IN THIS ARTICLE
Mathews
Budget Speech Hints At Sacrifice And Restraint
Treasurer Hayden warns inflation could surge again harming private sector growth. He promotes budget restraint and wage indexation measures to dampen price rises while expanding public services slowly. He notes tax reforms aim to lift many out of tax and shift income distribution as inflation remains a risk.
MENTIONED IN THIS ARTICLE
Hayden
Destined to Self Destruct Budget Fails Inflation Fight
The budget appears unlikely to prove a convincing self denial or anti inflation plan for employers and unions. It notes real income declines and tax reform effects while warning of higher indirect charges. Government spending rises 7.29 percent with a 25.2 percent revenue gain, leaving a domestic deficit of 2068 million. Maturing securities total 1520 million as borrowing looms, risking higher rates and delayed private sector recovery.
MENTIONED IN THIS ARTICLE
Hayden
Assembly reverses cannabis decision in parliament
The ACT Legislative Assembly reversed its Monday night decision to not reduce cannabis penalties. Opposition MPs criticized the move as political theatre while other items on the agenda included insurance legislation and election coverage.
MENTIONED IN THIS ARTICLE
ACT Legisative Assembly
Budget strategy labelled complete failure by Opposition
The Opposition Leader Mr Fraser warned the Budget would raise unemployment despite small company tax cuts, claiming higher fuel prices would offset any gains. Hawke urged caution on unemployment certainty, while industry leaders said the Budget lacked business confidence boosters and signalled further deficits.
MENTIONED IN THIS ARTICLE
Mr Fraser
Fraser
Hayden
Crean
Cairns
Metal Trades Industry Association
R. G. Fry
Also Mentioned on This Page
By Bruce Wright
Vandals
Fio Davis
Cee
Clieaman
Gay Davidson
Treasury
Parliament House
Canberra
Arbitration Commission
Yast
Accog
Warwick Bracken
Axstion
Geure
Qasteriace
Additon
Assembly
Mid-East
Jack Waterford
Crookwell
Fden- Monaro
Bob Whan
Insurance
Australian Government Insurance Corporation
World News
Law List
Finance
Witorton Do
Melbourne
ACTU
Hawke
Australian Bankers Association Research Directorate
Ronald Camron
Canberra Times
Arccommodation
Aire Ae
Air Service
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