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Thursday, 27 September 2001
Page: 31733

Mr SLIPPER (Parliamentary Secretary to the Minister for Finance and Administration) (5:27 PM) —I move:

That the amendments be agreed to.

This bill implements recommendations made by the Ralph Review of Business Taxation and it will improve the integrity and fairness of Australia's taxation system. The bill currently before the chamber should ensure that Australia receives its appropriate share of tax paid by multinational companies. The measures will limit the amount of tax that can be used to finance Australian operations of certain investors by reducing debt deductions where an entity's debt to equity ratio exceeds certain limits.

Question resolved in the affirmative.