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What's the shelf life of imputed rent?



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R M WOOLDRIDGE MP TEL No.03 8996237 12,09,88 17:35 P.02 31

PARLIAMENT OF AUSTRALIA HOUSE OF REPRESENTATIVES

12 ELMNtiWORTH PARADE P.O. BOX 31, BOX HILL, VIC. 312ยป TEL. (03) 898 0675

Dr. Michael Wooldridge, M .P. FEDERAL MEMBER FOR CHISHOLM

ACTING SHADOW MINISTER FOR HOUSING COMMONWEALTH PARLIAMENTARY LIBRARY C. I. S.

WHAT* S THE SHELF LIFE OF IMPUTED RENT7

"imputed rent for home owners is unlikely to remain in the Federal Government's housing and taxation pigeon hole for

long", Acting Shadow Minister for Housing, Dr. Michael

Wooldridge, said today,

"The Government knows the introduction of an imputed rent tax would be suicidal in the present political climate.

However Dr. Wooldridge cautioned homeowners to beware of

the Government's aim to cast a wider taxation net, possibly targeting them as a source of future tax income.

"Homeownership can no longer be regarded as sacrosanct."

"The Government is desperate to raise new revenue and

identify untapped tax markets."

"Homeowners are sitting ducks as they enjoy one of the few remaining areas that the Treasurer has not yet taxed."

“Given the capital gains, fringe benefits and tertiary

taxes, the shelf life of imputed rent might only be as long as the lead up to the next election", Dr. Wooldridge

concluded.

Dr. Wooldridge's comments followed EFAC's consideration of a housing paper presented by Professor Gruen.

12th September, 1988

Further information; Dr Wooldridge (03) 8980675