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Thursday, 25 August 1983
Page: 283

Mr PEACOCK —I refer the Treasurer to his earlier answer which attempted to discredit the independent assessment of the Australian Taxpayers Association that a taxpayer on $15,000 per annum faced a staggering increase of at least 56 per cent in his tax bill in 1983-84. What is the Treasurer's assessment of the increase in taxation faced by such a taxpayer? I emphasise the words 'increase in taxation'.

Mr KEATING —The net increase in pay as you earn tax is 6.7 per cent, depending on the extent to which the taxpayer relies on one of the first home ownership schemes or his medical benefits arrangements. The level of tax will reflect generally the net increase in PAYE tax. I have not worked out the tax on the specific example mentioned, but I will do so.

Mr Peacock —You mean you denigrated him and you did not know the answer?

Mr KEATING —I have taken his example and shown where it was wrong.