Fed: Govt hoping for more tax reform - Costello

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Fed: Govt hoping for more tax reform - Costello

CANBERRA, April 15 AAP - The federal government would pressure all states to abolishbank account debits tax by 2004/05, Treasurer Peter Costello said today.

The government would then move to cut stamp duties on mortgages and leases, Mr Costello said.

Bank account debits tax is paid to state governments when people take money out oftheir accounts.

"We'll get all the states to abolish that, I hope (in) 2004/2005," Mr Costello toldSydney radio 2UE.

"We start moving down then into stamp duties on mortgages and leases and that kind of thing.

"But it's a question of keeping the pressure up on the states, because the states getall of the GST revenue.

"In return we're going to ask them to reduce and eliminate those taxes."

AAP lm/mg/jlw

KEYWORD: TAX COSTELLO