War profits taxation to be imposed by the Federal Government in the Budget now being drafted will probably take the form of a Super-tax. It is expected to yield between £5,000,000 and £7,500,000 in the next financial year. The main difficulty encountered by the Government in assessing taxable profits is in arriving at the pre-war profit line. It is believed that the point where the Super-tax will become operative is about the 10 per cent, profit mark. Profits above this line may reasonably be adjudged due to war-time increase in business over the general range of industry, and the Super-tax may vary up to 60 per cent. on the excess profits in the case of the largest profit-making companies and groups. The war-time profit tax is part of the new taxation programme of more than £20,000,000 included in the record £120000000 Budget.
The Acting Minister for Information (Sir Henry Gullett) has announced that Communist newspapers, as such, are to cease publication. All Communist pamphlets and leaflets will be subject to the most rigorous censorship, and will be forbidden altogether to deal with certain subjects. The Minister said that the Communist publications were the voice of avowed enemies of both the Australian and the Allied war efforts, and of the Constitutional Government of Australia and the Empire. Totally prohibit ed subjects for the Communist pres: are the war, comprehensively including recruiting and training, and Russia and its Government. No reference may be made to any strike within the Empire or any Allied country, nor to industrial unrest, real or imaginary. In the House of Representatives Sir Earle Page said that the Communist Party should be declared an illegal organization, and that Australia must check these elements that are paralyzing the key industries.
Text read from the printed page and cleaned; old type leaves the occasional error.