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Thursday, 28 May 1942

Mr FADDEN (Darling Downs) (Leader of the Opposition) (9:59 AM) . - The Treasurer (Mr. Chifley) has given the very reason why the committee should insist upon retaining the system at present in operation. He told us that such a change would probably mean a loss of millions of pounds of revenue. That can only mean that the rebate system will extract a similar additional amount from the taxpayers. The only view I can form from that statement ii that this rebate system is a concealed imposition on the taxpayer. I think the Treasurer has misunderstood what I had in mind. I did not suggest the quantum of concession. What I suggested was that the act should be allowed to stand at present with regard to allowances for a wife and children under sixteen years of age. These allowances should be a simple deduction from the taxable income, and the residue should be taxed according to the scale proposed. I submit that view in order to lessen complexity as much as possible. It is all very well to claim that a Toady reckoner would be prepared which taxpayers would readily understand. Our object is simplicity and it will not be achieved by this method. I know the taxation scales appertaining to the bill have been worked out carefully, and therefore I do not intend to be adamant on the matter. I am afraid that the implementation of this system will not be as simple as the Government expects. Time will prove whether my fear is well founded, and I shall be satisfied if the Government will give a guarantee that the matter will be reviewed when the budget is being prepared.

Mr. Chifley.I am prepared to give that assurance readily.

Mr. FADDEN.In view of the assurance given by the Treasurer I ask leave to withdraw my amendment.

Amendmentby leave withdrawn.

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