XN000022-1972-03-01 — Page 42

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Wednesday, March 1, 1972

A married man with two children will be afforded relief over a range

and at

of net chargeable income extending from $5,000 to $70,000: at $5,000 the relief

will be $12.50 or 9.1 per cent of his present tax liability; at $35,000 the

relief will be $425 or 10.8 per cent of present tax liability; at $55,000

the relief will be $1,125 or 12 per cent of present tax liability;

$70,000 the relief will be $450 or 3.4 per cent of present tax liability.

The cost of the proposed salaries tax concession to the revenue in

1972/73 will be $7.1 million, This will eventually increase to about $9.5

million when all assessments in a year are made on the basis of the révised

schedule.

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