Senator CONROY (2:00 PM) —My question is to Senator Coonan, the Assistant Treasurer and the Minister for Revenue. Has the minister seen an article in the Business Review Weekly of 4 to 10 March titled `Blackguards of the boom' which sets out eight methods of cheating on federal and state tax law in respect of residential property? Has the minister examined schemes which transfer developments of units between joint venture partners to convert them from new to second-hand to avoid a GST liability when the units are sold? Given that the Deputy Commissioner for GST, Neil Mann, is quoted in the article as saying, `Some people are taking an approach that needs to be challenged,' does the minister believe that the tax law is clear on this matter?

Senator COONAN (Minister for Revenue and Assistant Treasurer) —I thank Senator Conroy for his question. I have not seen the article. However, I am aware that the Australian Taxation Office has discussed, if you like, in the media some concerns in relation to the treatment of residential property and the GST. It is one of the matters that have not yet been brought in a minute to me. Nevertheless, it is a matter about which I am concerned and one on which I am currently having some other investigations made. Obviously it is important that where the GST is properly payable it is paid. It is important that the law is clear. If the law is not clear, obviously it is the job of my ministry and this parliament to pass appropriate laws that clarify any ambiguity. That is the answer to Senator Conroy's question. As far as the article is concerned, if he wants to pass me a copy I will have a look at it and provide a more detailed answer.

Senator CONROY —Mr President, I ask a supplementary question. It is an article from 4 to 10 March, so it is a couple of weeks old. I certainly will provide a copy to the minister, as she does not seem to have it. My question went to whether the minister believes that the existing tax law is clear. That was the question. Will this government legislate to stamp out tax avoidance and evasion in this area? What action are you taking to deal with this?

Senator COONAN (Minister for Revenue and Assistant Treasurer) —The short answer to that, which is all I will have time for in one minute, is to say that if there is some lack of clarity in the tax law it is something which should be fixed. It is something upon which I take advice. When I get advice that enables me to settle a response with some particularity, that is when it will come forward and not before.