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Some relief in
Batt Budget
HOB ART: Relief from death duties and land
tax but higher stamp duties were among the
main measures announced by the Tasmanian
Treasurer, Mr Batt, when he brought down the
State Budget yesterday.
Death duties are to be reduced for estates passing
to children.
From next January there will be a 50 per cent
reduction in duty on these estates and from January
1980 the duty will be abolished.
Offsetting these gains, Tasmanians will now have
to pay a 10c stamp duty on each cheque, an increase
of 2c, while stamp duty on motor-vehicle purchases
goes up from SI.SO to $2 for each $100 of vehicle
value.
The Tasmanian Government has also introduced
a "loan duty" to be paid on loans above certain
amount and carrying more than a ccrtain rate of
interest.
Among other revenue-raising measures is a "super
royalty" on mining companies in the Slate.
This royalty, on a progressive scale, will hit several
highly-profitable operations — notably the Renison
tin mine, part of the Consolidated Goldfields group.
Mr Batt said the new royalty was expected to bring
in an extra $1.5 million this financial year.
This will offset the estimated SI.6 million which
the Tasmanian Government expects to pay out before
June 1980 to help keep another goldfields company,
Mount Lyell, afloat.
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