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Tuesday, 31 August 1993
Page: 652

To the Honourable the President and members of the Senate in Parliament assembled

  The petition of the undersigned shows:

  We the undersigned citizens respectfully submit that the Government's proposals to treat unrealised capital gains and losses on listed securities as income under the Social Security Act 1991 and the Veterans' Entitlement Act 1986 be abandoned. The Petitioners note particularly that:

  1. The majority of Australians regard the proposed method of calculating unrealised capital gains and losses as unfair and inequitable;

  2. The implementation of this measure will have a deleterious effect on national savings and investments of pensioners and veterans;

  3. We regard the Government's estimates of cost saving as spurious.

  And your petitioners, as in duty bound, will ever pray.