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Pay-roll tax rebates



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FOR PRESS, RADIO AND TELEVISION

PAY-ROLL TAX REBATES

The Commonwealth T r e a s u r e r , t h e R t . H on. H a ro ld

H o lt an n o u n ce d t o - d a y t h a t fro m 1 s t J u l y , 1962 t o th e en d '

o f S e p te m b e r p a y - r o l l t a x r e b a t e s t o t a l l i n g £ 1 ,2 3 5 ,0 0 0 h ad .

b e e n p a id t o 30 f i r m s w h ich had i n c r e a s e d t h e i r e x p o r t s a l e s

i n 1 9 6 1 -6 2 . . . , j

M r. H o lt s a i d t h a t i n a d d i t i o n t o c la im s f o r r e b a t e

i n r e s p e c t o f 1961-62 e x p o r t s a l e s , th e T a x a tio n O f f i c e was

s t i l l r e c e i v i n g c la im s i n r e s p e c t o f i n c r e a s e d e x p o r t s i n 1960-61

Of t h e s e , 130 c la im s t o t a l l i n g £ 2 1 3»000 h ad b e e n a llo w e d i n t h e

th r e e .m o n t h s p e r i o d t o t h e end o f S e p te m b e r l a s t . T h is b r o u g h t

th e t o t a l n u m b e r.o f f i r m s t o w h ic h r e b a t e s had b e e n p a id i n

r e s p e c t o f 1960-61 e x p o r t s t o 362 an d t h e t o t a l v a lu e o f r e b a t e s

f o r t h a t y e a r t o £ 1 ,2 9 4 ,0 0 0 . I n a d d i t i o n , 151 c la im s f o r

r e b a t e s i n r e s p e c t o f 1960-61 e x p o r t s o f a v a lu e o f a p p r o x im a te ly

£ 4 0 6 ,0 0 0 a r e c u r r e n t l y b e in g d e a l t w i t h b y t h e T a x a tio n O f f i c e .

. P a y - r o l l t a x r e b a t e s a r e p a r t o f th e t a x a t i o n i n c e n t i v e s

f o r e x p o r t i n tr o d u c e d by th e G overnm ent l a s t y e a r . R e b a te s

a r e a v a i l a b l e t o f i r m s i n c r e a s i n g t h e i r e x p o r t s above t h e l e v e l .

o f t h e i r a v e ra g e e x p o r t s i n th e tw o y e a r s 1958-59 and 1 9 5 9 -6 0 .

I f th e v a lu e o f a f i r m 's e x p o r t s i n c r e a s e s b y 1% o f i t s g r o s s

b u s i n e s s incom e the. f i r m i s e n t i t l e d t o a r e b a t e o f 1 2 .5 $ o f

i t s p a y - r o l l t a x l i a b i l i t y . T h is r a t i o a p p l i e s ·. p r o p o r t i o n a t e l y

so t h a t when th e i n c r e a s e i n e x p o r t s i s e q u a l t o 8$ o f t h e g r o s s

r e c e i p t s o f th e f i r m 's b u s i n e s s th e f i r m i s e n t i t l e d t o a f u l l

r e b a t e o f p a y - r o l l t a x .

l-9 th O c to b e r , 1 9 6 2 .