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Tuesday, 3 May 1994
Page: 114

(Question No. 1103)


Senator Patterson asked the Minister representing the Minister for Social Security, upon notice, on 28 February 1994:

  (1) What is the legislative basis for applying the income test on notional capital gains on listed securities to shares purchased in the secondary float of the Commonwealth Bank.

  (2) Has the department sought legal advice about the application of the income test on notional capital gains on listed securities to shares purchased in the Commonwealth Bank secondary float; if so, please provide a copy of that legal advice.


Senator Crowley —The Minister for Social Security has provided the following answer to the honourable senator's question:

  (1) Part 3.10 of the Social Security Act 1991.

  (2) No.