Chapter 1 - Introduction

Background

1.1        The Tax Laws Amendment (Personal Income Tax Reduction) Bill 2008 contains amendments to give effect to personal income tax cuts. The bill was introduced into the House of Representatives on 14 February 2008. The Senate referred the provisions of the bill to the Senate Standing Committee on Economics on 12 March 2008 for report by 1 May 2008.

Conduct of the inquiry

1.2        The committee placed information about the inquiry on its website, inviting written submissions by 4 April 2008. It advertised the inquiry in various issues of the Australian newspaper. The committee also contacted some relevant organisations inviting written submissions.

1.3        The committee received only five submissions. This may reflect the bipartisan support shown for tax cuts, along the lines of those in the bill, during the last election campaign. The submissions are listed in Appendix 1. Reflecting the dearth of submissions, no public hearings were held for this inquiry. Treasury responded to a list of questions put to them by the committee.

1.4        The committee thanks those who participated in this inquiry.

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