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Wednesday, 4 December 1996
Page: 6603


Senator WATSON —I give notice that, on the next day of sitting, I shall move:

That the Senate—

(a)   congratulates the Government for encouraging the growth of small business and the expansion of employment opportunities by providing relief from capital gains tax on the proceeds of the sale of assets; and

(b)   notes that this relief now applies to the reinvesting of those proceeds in any other business venture and that businesses now have 2 years to complete the reinvestment in order to attract the exemption.