Note: Where available, the PDF/Word icon below is provided to view the complete and fully formatted document
 Download Full Day's HansardDownload Full Day's Hansard    View Or Save XMLView/Save XML

Previous Fragment    Next Fragment
Friday, 2 July 1920


Sir JOSEPH COOK (PARRAMATTA, NEW SOUTH WALES) (Minister for the Navy) - The position is--


Mr J H Catts - Are not Commonwealth loans free of State taxation?


Sir JOSEPH COOK (PARRAMATTA, NEW SOUTH WALES) (Minister for the Navy) - They are, and State loans are free of Federal income tax. I confess that I was not aware of that fact until a few days ago. The question of whether or not incomes so derived are taxable has not yet been decided. It is a constitutional point, and until it has been determined, I cannot say whether they are taxable. Meantime no taxation is being collected in respect of income from State loans.







Suggest corrections