Mean Income Tax
p. 17 · Read in the full issue
P-Ng Customs Union
Could
TjHGHT companies trading in Papua-New Guinea combined to place before the Australian Customs Inquiry Committee, now taking evidence in the Territories, a series of reasons why there should hot be a Customs Union between Australia, Papua and New Guinea.
They presented a strong case against a Customs Union. The crux of it was in the following section, headed “Taxation”:— “If revenue, at present raised through import duties on goods from Australia, was forefeited or dispensed with, what means would the Ad ministration adopt to reimburse themselves for the revenue loss?
We can only assume this would be recouped by taxation.
“Development of the Territories would reach a point of stagnation if company or personal taxation was instituted in the Territories.
“In addition, it would probably lead to an immediate exodus of Europeans from the Territory, par ticularly the salaried class.”
Economy drive, or scraping the bottom of the barrel; The P-NG Treasury in April decided that it could no longer pay out £lO a year for prizes to European schoolchildren.