Report of the British Economic Mission to Australia

Bibliographic data

Monograph

Identifikator:: 179824683X

URN:: urn:nbn:de:zbw-retromon-182286

Document type:: Monograph

Title:: Report of the British Economic Mission to Australia

Place of publication:: London

Publisher:: His Majesty's Stationery Office

Year of publication:: 7th January 1929

Scope:: 63 S.

Digitisation:: 2022

Collection:: Economics Books

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Part IV. Supplementary memoranda and conclusions

Collection:: Economics Books

Transport Generally. (11) That co-ordination of transport authorities should be under- jaken in all the States, and that by some means co-ordination of iraffic for the whole of Australia should be achieved. (Paras, 41 ta 483) B. TaxaTion. (1) That there should be uniformity throughout the Common- wealth and States in calculating income for income tax purposes, and that the combined tax should be paid as one tax in two instal ments. (Para. 2.) (2) That a similar course should be taken in regard to calculating nheritance duty. (Para. 7.) (3) That the principle of averaging or of allowing a set-off for losses should be fully recognized by the Australian Governments in making assessments for income tax. (Para. 3.) (4) That land tax if charged should be at an even rate on all land values. (Para. 8.) (5) That in consultation with the shipowners some more equit- able scheme of imposing income tax on shipping profits than that now existing should be arranged. (Para. 5.) (6) That the profits of non-Australian Companies trading here should be fullv assessed. (Para. 6) C. BANKING. We think that it is a matter for consideration :— (1) Whether the Directors of the Commonwealth Bank, if that Bank is to be (as it naturally would be, and indeed is proposed to be) the contemplated Reserve Bank, should not oe appointed otherwise than by the Government. (Para. 5.) (2) Whether its Branches, in so far as they are ordinary trading branches, should not be entirely divorced from the Bank acting as a Reserve Bank. (Para. 6.) (3) Whether in order to afford proper opportunities for the issue and negotiation of trade bills, which facilitate the busi- ness of a Reserve Bank, the stamp duty on bills of exchange should not be verv much reduced. (Para 4) D. Tas DBVELOPMENT AND MIGRATION FOR SCIENTIFIC AND INDUSTRIAL RESBAROH. CoMMISSION, THE COUNCIL RESEARCH AND FcoNoMIC (1) That the work of the Development and Migration Com- mission and the Council for Scientific and Industrial Research should be assisted by further trained staff, as necessary. (Para. 4.) (2) That closer co-ordination should be effected between these wo bodies. (Para. 5.)

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