Note: Where available, the PDF/Word icon below is provided to view the complete and fully formatted document
Sinclair's party to oppose capital gains tax



Download PDFDownload PDF

MEDIA RELEASE BY THE LEADER OF THE NATIONAL PARTY, IAN SINCLAIR

National Party Leader, Ian Sinclair, today said his Party would vigorously oppose any sort of new capital gains tax being introduced as part of Treasurer Keating's tax package.,

He said a capital gains tax is a disincentive to individuals investing for their future.

"If Labor this week brings in even a seemingly mild form of gains tax it will only be a matter of time before it will be extending that tax range," Mr Sinclair said.

"We will not be party to any extension of a current capital gains tax."

Mr Sinclair also said that the National Party would oppose fringe benefits of isolated workers being taxed.

He said that miners, oil rig workers and farm workers should not be taxed on subsidised housing.

"It's tough working in our isolated community and we need to do as much as we can to encourage skilled personnel to take those jobs.

"Subsidised housing has been one way that has achieved a steady flow of skilled men and women who normally recognise hardship areas.

Mr Sinclair said that he believed that Mr Keating and the Prime Minister, Mr Hawke, had made a real mess of tax reform.

"These self-professed economic geniuses have spent months chewing over tax reform and all we have got is indigestion," 1’: ^ยท .

he added.

15TH SEPTEMBER 1985