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Thursday, 10 May 2007
Page: 4


Mr COSTELLO (Treasurer) (9:16 AM) —Mr Speaker, on indulgence, in the second reading speech on the Tax Laws Amendment (Personal Income Tax Reduction) Bill 2007 I said that taxpayers will not reach the highest marginal tax rate until they earn more than 3½ times average weekly earnings. That is from the income year 2008-09, not the income year 2007-08 as the printed speech said. I want to make that clear for the purposes of the second reading speech.