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Howard Introduces Temporary Tax Levy To Pay For East Timor Commitment

The Howard government is to introduce a temporary tax levy to pay for Australia’s military commitment to East Timor.

In a statement to the House of Representatives today, Howard said the levy will only apply for 2000-01. It will be applied as an addition to the Medicare levy for taxpayers earning above $50,000 per annum.

The levy will be 0.5% for taxpayers earning between $50,000 and $100,000. It will be 1% for taxpayers earning above $100,000. [Read more…]