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Tuesday, 1 October 1935

Mr CASEY (CORIO, VICTORIA) (Assistant Treasurer) - The affairs of individual taxpayers do not, of course, come under my notice. I have no means of informing myself about individual cases. In regard to company taxation I point out that the rate is1s. in the £1 or 5 per cent. In addition to that, companies have in the past been taxed on their property income at 6 per cent. This, in the future, will be 5 per cent. There are, in addition, land taxes and rates. I cannot, however, conceive of the possibility of the rate of taxation on companies ever reaching 50 per cent. I can only assume that the amount of dividend paid to shareholders by this company must have been very far short of the total amount of profits earned. In that way only can I account for the discrepancy between the disclosed profits and the rate of tax.

Mr SPEAKER - I again ask honorable members to exercise proper care in asking questions of Ministers. I checked the honorable member forWentworth (Mr. E. J. Harrison) for asking a question the nature of which I realized would require the Minister to make a statement of a kind which should properly be made only by leave of the House. Questions should not be framed in such a way as to require answers of that kind.

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