Note: Where available, the PDF/Word icon below is provided to view the complete and fully formatted document
Thursday, 17 June 1915

Senator PEARCE - The answer supplied by the Commissioner is as follows : -

It is understood by the Commissioner that the question means, how much extra revenue would be produced from each State - (1) by fixing the rate of Federal land tax at a figure which would give an increment of tax of Is. on the last ?1 of a taxable balance of ?75,000, and taking that increment of tax as a flat rate applicable to the whole taxable balance of ?75,000; (2) by working from the amended rate thus ascertained in order to calculate the increment of tax on the last ?1 of any taxable balance and utilizing such increment as a flat rate applicable to the whole of the taxable balance.

Under the most favorable circumstances, it would not be possible to make a calculation of the extra tax that would be received under such a scheme within a period of at least six months, as it would be necessary to make complicated calculations in connexion with each taxable estate now assessed under the Act.

An estimate of extra tax could not be given at present.

Suggest corrections