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Wednesday, 10 November 1971
Page: 3302

Dr Klugman asked the Treasurer, upon notice:

Can he supply figures showing the net result to the Taxation Commissioner of section 26a of the Income Tax Assessment Act as it relates to share trading, including separate figures for income becoming taxable and for deductions due to losses, etc., for each year from 1962-63 to date.

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

No statistics are available of the income tax resulting from income assessable under section 26 (a) of the Income Tax Assessment Act, or of the loss of revenue resulting from deductions allowed under section 52 of the Act, in respect of profits relating to share trading.

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