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Tuesday, 7 December 1976

Mr Kevin Cairns (LILLEY, QUEENSLAND) -I give notice that at the next day of sitting I shall move:

That, acknowledging that the increase of the income tax burden since 1 972 has been totally disastrous, and noting the stated intention of the Government to promote taxation reform of which tax indexation is the first instalment, this House is of the opinion that such reform should embrace the following considerations:

(1)   Income taxation should be adequate to serve the revenue needs of government and that the increased total in tax revenue should be related only to the increase in the number of taxpayers, productivity and incomes in real terms;

(   2 ) It should be fair as between persons and households;

(   3 ) Marginal rates of tax should be reduced as suggested by the Asprey report and that the maximum marginal rate should be reduced towards 50 per cent as conditions allow;

(4)   To recognise the importance of tax concessions in promoting incentive and investment but not so as to make their principal value to the taxpayer dependent on the tax forgone;

(   5 ) The contribution of the rebate system in acknowledging that people placed equally should be treated equally and that many income earners especially those on the lower tax scales fail to claim adequately for concessions;

(6)   That where rebates are transferred to social welfare payments the transfer compensates for the value of the rebates for each taxpayer or the household supported by the taxpayer,

(7)   The effects of taxation and proposed changes in tax rates upon real disposable incomes should be acknowledged by the Commonwealth Arbitration Commission;

And that alterations in the taxation system should seek to abide by these principles whether or not they are accomplished at the one time.

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