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Wednesday, 23 November 1938

Mr CASEY (Corio) (Treasurer) . - I am reasonably familiar with themainsprings of action which brought about these proposals, but I have never heard what was said by the honorable member for Darlings Downs (Mr. Fadden) before. It is clear, on the face of it, that the intention of the amendment is, as I have suggested, to serve the interests of the taxpayers by making deductions relatable to the proper source. I cannot conceive of a case in which it would not be in the interests of the taxpayer to have the balance of the deductions taken from the portion of the income which attracts the highest rate of tax, namely, income from property.

Mr Fadden - The explanatory memorandum makes it appear that solicitude for the taxpayer is the cause for the amendment, whereas, in my opinion, the amendment is due to the case which I have cited.

Mr CASEY - I cannot conceive of any case in which this amendment would not work to the interests of the taxpayer.

Mr Fadden - That is so.

Clause agreed to.

Clauses 7 to 16 agreed to.

Clause 17 - (1.) The amendments effected by this act, other than the amendment effected by section fourteen, shall apply to all assessments for the financial year beginning on the first day of July, One thousand nine hundred and thirtyeight and all subsequent years.

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