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Want to know where your $$'s go - look at Hawke's tax take



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P A R L I A M E N T O F A U S T R A L I A

H O U S E O F R E P R E S E N T A T I V E S

PETER SHAC K. M.P. FEDERAL MEMBER FOR TANG0JEY SHADOW MINISTER FOR EMPU TRAINING AND YOUTH AFFAIRS

P.O. BOX 1206, BOORAGOON, W.A. 6154 SUITE 8, GATEWAY MELVILLE CITY CENTRE BOORAGOON TEL. (09) 364 5554

M E D I A R E L E A S E .

13TH JULY, 1988. T54/88.

WANT TO KNOW WHERE YOUR SS's GO - LOOK AT HAWKE'S TAX TAKE.

The Hawke/Keating Government is keeping Australia's bushranging tradition alive and well, according to Tangney's local M.P., Peter Shack.

"Captain Starlight, Ben Hall and Moondyne Joe had nothing on these guys who took just four years to increase personal income tax rates by around 55 per cent.

"This steep rise came about as a result of the following personal income tax hikes:

1983/4 1984/5 1985/6 1986/7

7.6% 18.6% 11.6% 16.3%

"Not only have we lost our hard earned dollars in this way, but "bracket creep", which automatically nets the Government a higher proportion of incomes when wages rise, has also ripped even more money out of our pay packets.

"Bracket creep will boost the Government's coffers by an estimated $3 billion over the 1987/88 and 1988/89 financial years and provide a big proportion of the funds for the personal tax cuts Paul Keating has promised for next year.

"If these cuts are made all that they will do is return to taxpayers money which should never have been taken from them in the first place.

"It is all very well for the Government to boast about achieving the first Federal budget surplus in 35 years, but they are only telling half the story.

"What they are hoping the Australian people will ignore is that this surplus has only been achieved by the imposition of the heaviest tax burden in Australia's post war history.

"In the 1987/88 financial year Government receipts of personal income tax were $740 million higher than expected, and on top of this tax refunds to workers were $213 million lower than forecast.

"What all this amounts to is that the Government is simply building up a nest egg so that it can make itself popular by offering tax cuts just before the next Federal election.

"This is a totally cynical exercise and will be seen as such by taxpayers who have been held to ransom for far too long."

Further information: Delys Newman (364 5554).