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Tuesday, 25 March 1997
Page: 2398


Senator KEMP (Assistant Treasurer)(5.04 p.m.) —You have exempted, as your amendment says, them from all taxes and surcharges. The fact of the matter is that that provides a very substantial advantage for RSAs compared with other products. I think it is up to you to explain to us why you have gone down that route because the advice I have is that it does open up a tax haven.