Retain existing sales, wholesale, petrol excise and payroll tax. Cut company tax from 39% to 33%. Cut income tax. In Jun 94 $3.30pw at $25,000 rising to $23.25 at $50,000 and above. In Jan 96 $3.30pw at $25,000 rising to $24 at $50,000 and above. No cuts below $20,000.
Coalition: Abolish sales, wholesale, petrol excise and payroll tax. Impose GST at point of consumption of all goods and services except health, education, food for home consumption, residential land. Cut income tax. In Jul 93 $2.30pw for everyone. From Oct 94 (GST day) from $6pw at $10,000 to $49.70 at $40,000 and above. Taper capital gains tax until none is payable for assets held for more than five years. No capital-gains on goodwill.
Health:
Labor: Increase Medicare levy from 1.25% to 1.4%. Buy 10,000 private beds for public patients to cut waiting lists. Basic dental care under Medicare to health card holders. Keep present AIDS funding.
Coalition: Cut $1.3bn in grants to states for hospitals which would be made up with private-insurance input. Medicare to change: no general bulk-billing; rebate cut to 75% of schedule fee; penalties of up to $800 for individuals on $35,000+ and families on $45,000+ for those failing to take out private insurance on tope of the 1.25 per cent levy. Incentives for low-income earners to get private insurance with rebates of up $800 for family, phasing out at $30,000 income.
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