Coalition would say thanks to taxpayers

Under a coalition federal government, there would be no breaks for taxpayers but
they would get a thank you note.
Opposition treasury spokesman Joe Hockey has also promised to take another look at
Treasury secretary Ken Henry's two-year review on Australia's tax system if the
coalition wins the August 21 election.
He told a financial advisers' luncheon in Melbourne on Thursday that as treasurer he
would, within 30 days, publicly release all of the modelling and assumptions used
for the review.
A green and white paper process would consult Australians on future tax reforms, to
be rolled out in a second term.
The process would be aimed at getting lower, simpler and fairer taxes for
individuals and business - but the coalition ruled out a number of options up front.
These include new taxes on business, means testing the child care rebate, scrapping
the private health rebate, reducing indexation of the aged pension or increasing the
GST.
Besides the chance to have another look at simplifying the system, PAYE taxpayers
would get a "thank you note" with their receipts under the policy.
It would detail how much of their tax went to areas including welfare, health,
education and defence.
Mr Hockey said the new receipts would not be costly or increase the workload of the
tax office.
He blamed Labor for the lack of tax relief in his policy.
"Obviously we want to deliver personal tax income cuts - we've done it in the past
and we'll do it again," he said.
"But if the government continues to run significant deficits and if the government
hasn't paid off its debt ... you can't keep reducing the taxation pie while you've
got to pay back all this debt."
Treasurer Wayne Swan said the coalition's most significant tax policy was its plan
to levy big business to fund its paid parental leave scheme.
"What they're saying is they don't have a tax policy except their ... Coles and
Woolies grocery tax," Mr Swan told reporters in Canberra.
The government had already taken a serious look at the Henry review, Mr Swan said.
"We went through the Henry review in a genuine way and we are acting a substantial
number of recommendations which go to its very core which is bringing down company
taxation," he said.
To complement the tax policy, the coalition also announced a new Office of Due
Diligence.
To be housed within the Department of Prime Minister and Cabinet, the office would
examine every "major government spending program" before it starts.
Opposition Leader Tony Abbott said it would prevent "crimes against the taxpayer"
like Labor's troubled home insulation and school infrastructure programs, by
requiring detailed plans for schemes worth more than $100 million.
"This is an extremely important initiative to try to ensure that never again we have
the kind of disasters we've seen all too frequently under the current government,"
he told reporters in Sydney.
Prime Minister Julia Gillard dismissed the idea as a move that would lead to more
bureaucrats.
"Mr Abbott would be better off focusing on getting his expenditure policies in for
costing," she told reporters in Tasmania.