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Tuesday, 8 November 1977
Page: 3097

Mr FitzPatrick (DARLING, NEW SOUTH WALES) asked the Minister for Post and Telecommunications, upon notice, on 23 March 1977:

(   1 ) Did he say in his speech to the annual conference of the Proprietary Sugar Millers Association on 27 February 1977, that revenue forgone already by tax reforms exceeded $2000m annually. were circulated:

(2)   If so, will he provide a breakdown of the forgone revenue in the categories mentioned by him, (a) personal tax indexation, (b) new arrangements for Commonwealth estate duty, (c) the new system of income equalisation deposits for farmers, (d) the 40 per cent investment allowance, (e) incentives for the mining industry, (f) the easing of distribution requirements for private companies and (g) trading stock valuations.

Mr Eric Robinson (MCPHERSON, QUEENSLAND) - The answer to the honourable member's question is as follows:

(   1 ) In my speech on 28 February 1977 1 said that the total revenue forgone in respect of decisions already taken by the Government exceeded $2000m annually.

(2)   The estimated revenue forgone as a result of the application of the various measures for the 1976-77 financial year is as follows:


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