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Thursday, 7 December 2000
Page: 21271


Senator Harris asked the Assistant Treasurer, upon notice, on 8 December 1999:

(1) What was the accelerated depreciation allowed for Schedule 25A companies in the 1995-96 and 1996-97 financial years.

(2) What would have been the depreciation allowed to these companies for the above financial years if accelerated depreciation was abolished on the lines of the proposals in the Review of Business Taxation (Ralph report) which the Government has accepted.

(3) What would have been the net tax payable by these companies for the above financial years if the company tax rate was 30 per cent and accelerated depreciation was replaced by normal depreciation on the lines of the Ralph report proposals.


Senator Kemp (Assistant Treasurer) —The Treasurer has provided the following answer to the honourable senator's question:

Information on accelerated depreciation is not captured on company tax returns, including for those companies completing Schedule 25A. Therefore, it is not possible to provide answers to the questions.