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Thursday, 18 May 1972
Page: 2850


Mr Hayden asked the Treasurer, upon notice:

What would be the cost of tax collections foregone if an annual amount equal to (a) single rate and (b) married rate aged pension is allowed as a tax deduction from taxable income for tax paying males 65 and over and females 60 and over who are not in receipt of an age pension.


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

Taxpayers are not required to state their ages on income tax return forms unless they wish, under the age allowance provisions, to claim exemption from income tax or a reduction in income tax otherwise payable. Accordingly, the only income tax statistics which indicate whether a male taxpayer is 65 years of age or over or whether a female taxpayer is 60 years of age or over are those relating to taxpayers who completed the age allowance part of the income tax return form and benefitted from the allowance.

Because of this, and because other available information has been found insufficient for the purpose, it is impracticable to provide a reliable estimate of the loss to revenue that would result if the deduction envisaged in the question were allowed.







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