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Thursday, 9 December 1971
Page: 4619

Mr Webb asked the Treasurer, upon notice:

In view or.' the falling'' value of concessional deductions, will - he review the amount of the- - deductions allowable under sections 82b and 82jof the Income Tax Assessment Act.

Mr Snedden - The answer to the honourable member's question is as follows:

In accordance wilh normal practice, the maximum amounts deductible, under sections 82b and. 82.1 of the Income Tax ' Assessment Act were . reviewed, along wilh other proposals for new .or . extended taxation concessions, when the 1971-72 Budget was being prepared. As the honourable member may recall, an increase in the maximum ' deduction under section 82j was among the measures which 1 announced in my Budget Speech. There does not appear lo be any call for a further review of either matter so soon after the Budget but both may be expected lo be looked into again in the course of preparing the 1972-73 Budget.

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