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Wednesday, 4 May 1994
Page: 200

Senator WATSON —I direct my question to the Minister representing the Treasurer. I refer to the Midford Paramount compensation saga. Is the Treasurer aware that at least one of the parties was informed in writing that the calculation of compensation for ill-health and damage took into account that the compensation would not be subject to the capital gains tax? I ask: why then is the Australian Taxation Office now seeking to mount a test case to determine whether the amount should be subject to capital gains tax? Is this fair and equitable in the circumstances? Is it not another example of government agencies not acting in unison on government policy and practices? Will the minister ensure that the government's commitment to the beneficiary is honoured?

Senator COOK —I thank Senator Watson for his question on the Midford Paramount case. I am not aware of the issue that he has raised as having been directed to the Treasurer by way of correspondence from one of the parties. I will put the question to the Treasurer, obtain an answer and deliver it to Senator Watson in due course.