Senator MURRAY (7:30 PM) —By leave of the chamber, I wonder whether I could make a remark for a minute or so. No doubt the government and the opposition have been approached about certain drafting difficulties with the legislation. One of those difficulties has been brought to my attention, but I feel it is too complex to deal with in this debate now. I am quite certain that the government may have to reconsider some of the provisions in this legislation as it goes along. Nothing is ever perfect, as we know. I refer to the Investment and Financial Services Association which has what it thinks is an unintended consequence, resulting in a taxation disadvantage being conferred upon some of the participants or unit holders in some of the businesses it is attached to.

I raise this matter because I think that IFSA may well have a case. But it is a complex case and, frankly, it would be better off being resolved with government out of the stress of getting a bill through in terms of consideration. So this is just really a question to you, Minister, with the forbearance of the opposition. This matter does form part of this particular bill, the New Business Tax System (Integrity and Other Measures) Bill 1999 , and I would put the question to you: are you aware of IFSA's problem? If not, would it be in order for me to raise those issues with you separately for your consideration?