Fed: National MP says farmers to be taxed twice under draft laws

AAP General News (Australia)
12-05-2000
Fed: National MP says farmers to be taxed twice under draft laws

National Party backbencher IAN CAUSLEY says proposed changes to the taxation of trusts
would mean many farmers would be taxed twice.

The National Party is pressuring Treasurer PETER COSTELLO to scrap proposals to tax
family trusts, often used to ensure the safe transfer of property between family members,
for the first time.

But Mr CAUSLEY says there's no split in the coalition because many Liberal backbenchers
are also concerned by the draft legislation.

He's told reporters it would mean double taxation.

Mr CAUSLEY says the aim of the bill is to treat trusts the same as companies, but the
draft legislation being circulated for comment goes further than that.

Opposition leader KIM BEAZLEY today challenged the government to defy the National
Party and show it was serious about fair tax reform.

AAP RTV kmh/daw/jn

KEYWORD: TRUSTS MPS (CANBERRA)

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