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Thursday, 31 October 1974
Page: 2200

Senator Chaney asked the Minister representing the Treasurer, upon notice:

(   1 ) What was the total amount of the refund of tax allowed for education expenses in the most recent year for which information is available.

(2)   What is the expected saving in revenue through the cut in the amount of the education deduction to a maximum of $150 per child.

Senator Wriedt - The Treasurer has provided the following answer to the honourable senator's question:

(   1 ) As indicated at page 20 or the Statements attached to the 1974-75 Budget Speech, it is estimated that the cost to revenue of the concessional deductions for education expenses (including self-education expenses) was $130m in respect of the income year 1 972-73, the latest year for which figures are available.

(2)   As indicated at page 86 of the Statements, it is estimated that the proposed reduction from $400 to $150 in the maximum amount claimable per-student for education expenses (including self-education expenses) would produce a full-year gain to revenue of $30m.

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