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April 25th, 2012 
FAKE NEWS for the Zionist agenda The federal government could create $8 billion worth of savings if it tackles “poorly targeted” tax subsidies and rebates, a new report says.
The report by the Australian Council of Social Service (ACOSS), released on Thursday, has pinpointed a “new layer of rebates” which it says have “have grown unsustainably in the past decade and are poorly targeted”.
The rebates targeted by the report include the Private Health Insurance Rebate from ancillary or extras cover, the Extended Medicare Safety Net, the Medical Expenses Tax Offset and the Education Tax Refund.
It also takes aim at the tax deduction for self-education expenses.
“A major problem with these rebates is that they mainly benefit people on higher incomes who in relative terms can afford to pay more for these services (including health insurance) in the first place,” ACOSS CEO Dr Cassandra Goldie said in a statement.
“The time has come to pare back these programs beyond applying means tests to cap them at very high income levels.”
The council said it also wants to see the government target “tax breaks”, and tighten the taxation around such items as private discretionary trusts.
“There will be no room in the Budget for more investment in major social and physical infrastructure, unless governments crack down on tax shelters like family trusts and superannuation tax breaks for people on higher incomes,” she said.
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