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Tuesday, 27 October 1964
Page: 1277

Senator HENTY (Tasmania) (Minister for Civil Aviation) . - I move -

That the Bills be now read a second time.

These Bills are designed to implement the proposal announced in the Budget speech that the rate of sales tax on motor cars shall be increased from 221/2 per cent, to 25 per cent, on and from the 12th August which is the day following that on which the Budget Speech was delivered. The higher rate applies to all those types of motor vehicles for the transport of persons which were previously taxed at the rate of 221/2 per cent. The Bills have no other purpose. The rate of tax on commercial motor vehicles, and on parts for motor vehicles, remains unchanged at121/2 per cent. The increase in the tax on motor cars is one of the steps taken to raise the additional revenue required in order that the Commonwealth may be in a position to meet its obligations as outlined in the Budget speech. It is estimated that this increase will produce additional revenue of approximately £6.25 million in a full year, or £5 million for 1964-65. I commend the Bills to honorable senators.

Debate (on motion by Senator O'Byrne) adjourned.

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