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Tuesday, 23 August 1960


Mr CLAY (ST GEORGE, NEW SOUTH WALES) - The Treasurer is, no doubt, aware that the amount of water and municipal rates paid by home-owners is an allowable deduction for income tax purposes. Is the Treasurer conscious of the relief which would come to citizens who were obliged to borrow money to purchase or build homes if interest payments on these loans were similarly deductible? Will the Treasurer give serious consideration to that most unjust impost with a view to assisting the many people in Australia who are struggling, often valiantly, to purchase homes?







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