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Tuesday, 24 February 1987
Page: 487

Senator SHEIL —My question is directed to the Minister for Finance. Will the Minister please explain why a pensioner who has a small share portfolio should have to pay tax on any bonus shares issued before those shares are sold?

Senator WALSH —I am not familiar with that area of taxation policy. I will refer that to the Treasurer for an answer. But I will observe in passing that if the policy of the Premier of Queensland is ever implemented-that is, that all income be taxed at 25c in the dollar-any pensioner who has any sort of income at all will be paying 25c tax in the dollar.