Note: Where available, the PDF/Word icon below is provided to view the complete and fully formatted document
 Download Current HansardDownload Current Hansard   

Previous Fragment    Next Fragment
Tuesday, 18 May 1993
Page: 655

Senator PATTERSON —I give notice that, on the next day of sitting, I shall move:

  That the Senate—


    (i)that a determination by the Minister for Social Security (Mr Baldwin) tabled in the Senate on 12 May 1993 reduced the official deeming rate to 4 per cent, and

    (ii)the fact that the deeming rate has now been reduced from 10 to 4 per cent in just over 2 years indicates the huge reduction in non-pension income faced by Australian retirees over this period; and

  (b)condemns this callous and uncaring Government for not providing one cent of tax relief for those retirees with taxable incomes under $20 700, many of whom are struggling to survive on drastically reduced returns on their savings.