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Wednesday, 23 March 1994
Page: 2082


Senator SHERRY (Parliamentary Secretary to the Minister for Primary Industries and Energy) (4.12 p.m.) —If it is, in effect, a prospective date from the date of the Assistant Treasurer's announcement, then trusts created before that date of the Treasurer's announcement, whatever it was, would obtain the benefits from the date of the announcement. If the legislation is retrospective—


Senator Watson —But you are not going to make it retrospective.


Senator SHERRY —We may consider that. In respect of Senator Harradine's matter, the government will consider retrospectivity, but we cannot give any undertakings on that at this point in time. Obviously, if it is retrospective, it will be retrospective depending on the amount of retrospectivity in the government's amendment that will be put forward later this year.