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Wednesday, 11 November 1964

Senator MARRIOTT asked the Minister representing the Treasurer, upon notice -

1.   Does the C.B.O.A. Credit Union Co. Ltd., which has 6.532 members, have its profits taxed at the same rate as public companies, as is stated in its annual report?

2.   Are there as also stated, some 21,000 credit unions in the United Slates of America and some 4.600 in Canada, all of which are not subject to tax?

3.   If the answers are in the affirmative, will the Treasurer advise if consideration has been given to releasing Australia credit unions from the burden of company taxation?

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