XN000022-1986-02-26 — Page 26

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WEDNESDAY, FEBRUARY 26, 1986

HE ADDED THAT THESE PROPOSALS WOULD BE THE SUBJECT OF FURTHER PUBLIC REVENUE PROTECTION ORDERS AT THE END OF MARCH AND AMENDING LEGISLATION WOULD BE INTRODUCED INTO THE LEGISLATIVE COUNCIL SHORTLY AFTERWARDS.

SIR JOHN SAID EFFORTS TO KEEP FEES AND CHARGES GENERALLY AS UP TO DATE AS POSSIBLE HAD BEEN ASSISTED IN RECENT YEARS BY COMPUTER SYSTEMS DESIGNED SPECIALLY FOR THIS PURPOSE.

DURING THE NEXT FINANCIAL YEAR, A NUMBER OF AREAS WERE SCHEDULED FOR THEIR NORMAL REGULAR REVIEW. THESE WOULD INCLUDE WATER CHARGES AND IMMIGRATION DEPARTMENT CHARGES. IN ADDITION, A FRESH LOOK WOULD BE TAKEN AT PARKING METER CHARGES, WHICH HAD BEEN UNCHANGED SINCE 1981.

+1 EXPECT THAT THESE TOGETHER WITH THE FAR MORE NUMEROUS. BUT INDIVIDUALLY SMALLER ITEMS THAT WILL COME UP FOR REVIEW IN 1986 WILL YIELD A TOTAL OF ABOUT $135 MILLION.+

TAX ALLOWANCE TO BENEFIT 96 PER CENT

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TAX PROPOSALS IN THE 1986-87 BUDGET WOULD BENEFIT ABOUT 96 PER CENT OF THOSE WHO MIGHT EXPECT TO PAY SALARIES TAX, SIR JOHN BREMRIDGE SAID IN HIS BUDGET SPEECH TODAY.

UNDER SIR JOHN'S PROPOSALS, THE ADDITIONAL PERSONAL ALLOWANCE (SINGLE) WOULD RISE FROM $7 500 TO $8 500, AND THAT FOR MARRIED PERSONS FROM $17 000 TO $19 000.

THE BASIC PERSONAL ALLOWANCE PLUS ADDITIONAL ALLOWANCE WOULD TOTAL $29 000 FOR A SINGLE PERSON AND $60 000 FOR A MARRIED COUPLE.

SIR JOHN ALSO SAID THAT A RISE IN THE BASIC DEPENDENT PARENT ALLOWANCE FROM $8 000 TO $9 000 WOULD TAKE THE TOTAL ALLOWANCE AVAILABLE FOR A DEPENDENT PARENT RESIDING WITH THE TAXPAYER TO $12 000.

THE CHANGES WOULD TAKE EFFECT FROM APRIL 1, 1986 AND WOULD THEREFORE FIRST APPLY TO PROVISIONAL SALARIES TAX ASSESSMENTS FOR 1986-87, FINAL TAX ASSESSMENTS FOR THAT YEAR, AND TO 1986-87 PERSONAL ASSESSMENTS.

SIR JOHN SAID THAT WHILE THE CONCESSIONS MIGHT NOT BE AS LARGE AS SOME MIGHT WISH, HE BELIEVED THEM TO BE REASONABLE IN THE CONTEXT OF THE PRESENT LOW INFLATION RATE AND THE PERSONAL TAXATION CHANGES MADE IN THE LAST BUDGET.

HE ESTIMATED THE COST TO REVENUE IN 1986-87 TO BE ABOUT $127 MILLION, AND $180 MILLION FOR A FULL YEAR.

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