04 Sep 1957
Page 1
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Newspaper
Canberra Times
Location
Canberra, Australian Capital Territory, Australia
Date
Sep 04, 1957
Page
1
Fragmentary report shows rally data with names like Hampton and Lee, mentions Auguat and Cloncurry, and references leaders and faults. Reading is unclear, but indicates a competition result with incomplete figures and driver mentions.
The 1957/58 Budget presented to Parliament by Treasurer Arthur Fadden outlines £56.85 million in tax concessions for the full year and £28 million for the remainder of the current year. It preserves personal income tax, tightens company tax, and increases pensions including invalids and widows. The measure also raises hospitalisation allowances, widows’ pensions, and unemployment benefits, while maintaining motor car sales tax and broad reliefs for charitable gifts and housing. A surplus of £109.963 million will be allocated to the Loan Consolidation Reserve.
Sir Arthur Fadden outlined a package to raise company tax by rates up to 54 and reduce tax on the first 5 000 pounds of income, with 7 6 on the rest. The proposal covers private and friendly societies, depreciation changes, and a possible withholding tax to attract overseas investment, citing Canada and the U S as models.
Kingston reports an immense wreck as a derailed excursion train carrying 1 500 Roman Catholic travelers crashes 75 miles from Kingston. At least 205 killed and 400 injured as bodies lie along the embankment and relief crews rush to the site.
A new payroll tax scale takes effect in September, taxing employers paying over £200 per week or £866 13s 4d per month. The exemption rises from £6,240 to £10,000, reducing the number of payroll taxpayers by about 16,000, with a yearly revenue cost estimated at £2.76 million. The amending bill debate was adjourned.
A radio tracking system used at Woomera to plot the course of an artificial satellite or object malfunctioned while operated by American personnel. The incident prompted checks on the equipment and procedures at the remote installation.
Mr. R. W. Anderson of the Associated Chambers of Commerce warned the budget would disappoint industry, noting it lacks substantive cuts and only superficially addresses payroll taxes. Leon Trout praised the budget’s stability measures but urged inclusion of industrial building incentives and broader tax relief.
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