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Tuesday, 21 June 1994
Page: 1802

Senator WATSON —I give notice that, on the next day of sitting, I shall move:

  That the Senate notes—

  (a)that the Government appears to have overlooked the impact of the fringe benefits tax (FBT) on revenue in the 1994-95 Budget announcement enabling acquisition of shares by employees in the Government-owned airline Qantas; and

  (b)that, if implemented in the approved form, the acquisition of share proposal would result in an FBT liability of $20 million which must inevitably reduce the budget asset sale value of Qantas.