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Thursday, 14 May 1987
Page: 3223

To the Honourable the Speaker and Members of the House of Representatives assembled in Parliament.

We the undersigned small business people and supporters wish to draw attention to and protest against recent tax changes and the horrific administrative burdens which will be placed upon small businesses by these changes.

We request that Fringe Benefits Tax, Capital Gains Tax, Dividend Imputation, Negative gearing, Foreign tax credits, and Substantiation legislation be immediately repealed.

We also request that the proposed legislation yet to be tabled in Parliament in respect of self assessment be discontinued.

To make up the shortfall in revenue as a result of these requests, the promised personal tax cuts should be deferred until such time as they can be funded by pruning government expenditure.

Unless the above action is taken immediately the private sector of the economy will contract and Australia will be further down the road to becoming a banana republic.

by .