TAX TIME GAIN FOR
40,000 PEOPLE IN LINDSAY
30 July 2010
Around 40,000 people in the electorate of Lindsay in Sydney’s West will receive bigger tax returns as a result of the Gillard Government’s $620 million initiative to make tax time simpler by providing an optional standard $1,000 tax deduction for work related expenses.
Assistant Treasurer, Senator Nick Sherry, and David Bradbury, the Member for Lindsay, have today announced that 40,000 residents in Penrith, Kingswood, St Marys and other areas of Lindsay will benefit financially from the initiative.
The Gillard Labor Government’s scheme will provide an optional standard work expenses deduction at tax time of $500 for the 2012-13 tax year benefiting 28,000 Lindsay residents.
The deduction will rise to $1,000 for the 2013-14 tax year, when up to 40,000 Lindsay residents will be net winners.
As a result of the standard work expenses deduction package, Lindsay residents will be, in total around $7.8 million better off, helping to ease the costs of living Sydney’s West.....READ MORE..
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