in Papua
p. 60 · Read in the full issue
Dearer Petrol and More Taxes in Papua
AN increase in taxation was considered necessary by the Legislative Council of Papua, which met in mid-August and had before it budgetary figures re lating to the current year.
The duty on petrol was raised by 3d. per gallon, which makes the retail price, in Port Moresby and Samarai, in the vicinity of 2/- per gallon.
The only other tax imposed took the form of a re-arrangement of the method of assessing the ad valorem customs duty.
The practice in the past has been to cal culate, in Australian currency, the per centage on goods from overseas, as if sterling figures were Australian currency figures. It now has been decided that the value of all goods being imported shall first of all be converted into Australian currency, before the percentage of ad valorem customs duty is calculated.
The two new taxes will give several thousands of pounds per annum of addi tional revenue, and it was then calcu lated that this would about balance the budget. This, of course, was before the outbreak of war—there is no saying how this latter cataclysm may effect the Terri tory’s finances.
A new convent school will shortly be erected in Port Moresby, Papua, to re place the old school which recently was demolished.
Rabaul Electricity, Limited declared a dividend of 5 per cent, early in September.