12 May 2010

Peter Garrett AM
Federal Member for Kingsford Smith
Minister for Environment Protection, Heritage and the Arts

Filling out a tax return will be easier thanks to new reforms announced by the Rudd Government in the 2010-11 Federal Budget.

The Member for Kingsford Smith, Peter Garrett, said that from 1 July 2012 the Government will give taxpayers the option of choosing a standard deduction of $500 instead of claiming workrelated expenses. The standard deduction will be increased to $1,000 from 1 July 2013.

Mr Garrett said that this was more great news from the Government’s tax reforms for the people of Kingsford Smith.

“Soon you can soon forget about the hassle of shoeboxes full of receipts and the costs getting your tax done at the end of each year.

“This really good announcement designed that will simplify the tax process for so many people in Kingsford Smith who know what it’s like to have to keep on top of receipts all year ahead of tax time.

“And importantly it comes just a week and a half after the huge superannuation injection and tax cuts for small business.

“This is tax reform that will pay real dividends for the people of Kingsford Smith and help address some of the issues I hear from small business people across the electorate.

“These changes will also make life that little bit easier for families at tax time each year and potentially provide a bit of extra cash to help make ends meet.”

Mr Garrett said under the changes, anyone wishing to continue claiming expenses under the existing system will be able to do so.

“When I talk to people in the Kingsford Smith community about tax, what they want to see is a less complicated system that means that everybody pays their fair share.

“This Government is determined to make lasting reforms in tax that make the system fairer and simpler while building a stronger economy for the Kingsford Smith community”