PM Transcripts

FOR PRESS, RADIO AND TELEVISION 1
( NOT TO BE PUBLISHED, BROADCAST OR CABLED R'A 0
BEFORE 5.30 P. M. ON SUNDAY, 30TH APRIL, 1967) R
PAY-ROLL TAX EX1PORT INCENTIVE REBATES
The Commonwealth Treasurer, the Rt. Hon. William McMahon,
announced to-day that in the three months ended March last, pay-roll
tax rebates totalling 3,016,000 had been allowed to 328 firms which,
by increasing their export sales in 1965/ 66, had qualified for
rebates. This brought the number of firms to which rebates had
been allowed to date for 1965/ 66 exports to 738 and the value of
rebates to -, 8,016,000. A further 361 claims for the 1965/ 66
financial year, totalling %? 4,590,000, were currently being handled
by the Taxation Office.
Mr. Mc~ iahon said that, in adcition to rebates for 1965/ 66
exports, the Taxation Office in the March quarter had allowed rebates
totalling $ 1,641,000 for exports of prior years. To the end of
March, 1,526 firms had been allowed rebates totalling $ 12,972,000
for 1964/ 65 exports, 1,680 firms had been allowed rebates totalling
$ 12,540,000 for 1963/ 64 exports and 1,588 firms had been allowed
rebates totalling 8,999,000 for 1962/ 63 exports. Rebates
totalling Z13,145,000 had been allowed for 1960/ 61 and 1961/ 62
exports up to the end of March. Claims totalling ' 1,856,000 for
1964/ 65 and earlier years were currently being handled by the
Taxation Office. Pay-roll tax rebates are part of the taxation incentives
for export introduced by the Government in 1961. Rebates are
available to firms increasing their exports above the level of their
average exports in the two years 1958/ 59 and 1959/ 60. If the value
of a firm's exports increases by one per cent of its gross business
income, the firm is entitled to a rebate of 12.5 per cent of its
pay-roll tax liability. This ratio applies proportionately so that
when the increase in exportE is equal to 8 per cent of the gross
receipts of the firm's business, the firm is entitled to a full
rebate of pay-roll tax.
April, 1967.