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Compass will benefit from opposition's tax reform



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A_____________________________________________________; _______________

Π DAVID JULL

SH A D O W M INISTER FO R TO U R ISM & AVIATION

Issued 28-11-91

Compass will benefit from Opposition's Tax Reform

Compass Airlines stands to benefit to the tune of almost $3.5 million from the Federal Coalition's Fightback Tax Reform Package, according to the Opposition's Tourism and Aviation spokesman, David Jull.

Mr Jull said that a study of Compass Holdings Limited Annual Report for the year ended 30 June 1991, showed that the $3.5 million savings were based on a year, which was not a full year of operations. (Compass commenced air services on December 1,

1990).

In the Annual Report, Compass paid Payroll Tax of $974,690 which under the Coalition would be abolished.

Compass was also liable last financial year to a Sales Tax impost of $2,451,003. Sales Tax will be abolished under the Coalition plan, and business inputs would have GST rebated on almost all items.

Mr Jull said there would also be savings for Compass in

reductions to the Fringe Benefits Tax (last year Compass paid $81,165).

On total Government charges and fees of $24,399,286 a $3.5 million saving is a minimum as other areas such as labour reform and the indirect effects of other tax relief will help keep

Compass competitive, Mr Jull said.

For further details contact David Jull (06) 277 4631.

COMMONWEALTH PARLIAMENTARY LIBRARY M iC A H

NOV 20 '91 12103 CQMRAS AIRLINES 07

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COMPASS HOLDINGS LIMITED tind Suljyid Contribution to Government Coffers; ffrmr fflddd 3QJunt tffl 1

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N O V 89 ’91 18106

$

12,334570 3,697564 2,451503 4299,632

81,165 10500

22576534

974,690 . 61,701 83,50$ 4500 1,124,696

51,301 246,453 297.756

2 W M

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P A G E ,992