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All farm families gain from fightback! -- low incomes get more

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B ruce Lloyd


While all farm families will benefit from the Coalition's Fightback package, families on low incomes will receive a bigger percentage lift in disposable income to lower income than those on higher incomes.

National Party Deputy Leader and Shadow Minister for Primary Industry, Bruce Lloyd, said while it had been widely acknowledged that farm businesses would be an average of $8000 a year more profitable under Fightback, the Government was trying to portray

farm families as being worse off.

"This is simply not true," Mr Lloyd told Parliament today.

He said the independent ACIL report which was commissioned by the National Farmers' Federation had shown that farm families in every income group would benefit and the poorer families by a larger percentage than the rich.

"For example farmers with an average income of $140.12 who are considered in the lowest decile group would benefit by $15.16 a week or about 11 per cent whereas those in decile 4 on an average of $410.50 would benefit by $16.30 or about 5 per cent."

Mr Lloyd said these savings will be achieved because the

Fightback initiatives which will directly affect farm families includes-. doubling of Family Allowance for families with incomes less

than $30,000 with smaller increases for families on higher incomes;

. a six per cent increase in Family Allowance Supplement;

. tax credits of up to $400 for low income families who take out private health insurance;

. abolition of the assets test for Assistance for Isolated Children Scheme;

. the suspension of the assets test for Austudy payments for families suffering hardship;

. an increase in the Dependent Spouse Rebate;

. no assets test for retirees living on the family farm;

. personal income tax cuts.

"ACIL claims the payment of the GST will add $16 a week family's personal bills but this will be more than offset benefits of the package. C O M M O N W EA LTH


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"For example the family would only need the doubling of family allowance for just one child from $10 to $20 and a tank of petrol in the car (about $11) to have $21 or an improvement of $5.

"If you then add the health fund rebate of up to $7.70 a week, together with a 30 per cent cut in personal tax, the benefits are considerable," Mr Lloyd said.

END 7/10/92



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