Wellington Times in Wellington, New South Wales

Federal Taxation Report Tabled in House by Prime Minister

The Taxation Commission tabled its first report in the House, urging that taxes on primes and producers be based on prior year income with a five year lookback, while proposing that mining profits, bond shares, and Crown leasehold interests face specific considerations. It favors general tax reform including enhanced exemptions for children and marriages, extending to primary producers for weather-related losses, and contemplates special rates to aid mining prospects.