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Wednesday, 4 December 2002
Page: 7171

Senator BROWN (Tasmania) (3.58 p.m.)—I move:

That the Senate—

(a) notes that:

(i) Gunns Ltd owns 170 000 hectares of freehold land in Tasmania, of which approximately 100 000 hectares is plantations and 70 000 hectares native forest, including old-growth eucalypt forests and rainforests,

(ii) approximately 70 000 hectares of Gunns' existing plantations were established under managed investment schemes which give tax concessions to investors under the 13-month prepayment rule,

(iii) Gunns intends to establish a total of 200 000 hectares of plantations on its own land and via joint ventures and considers the tax concessions essential for its plans,

(iv) the tax concessions will promote the clearing of 70 000 hectares or more of native forests by Gunns, and

(v) based on figures provided by the Minister for Revenue and Assistant Treasurer (Senator Coonan), the value of tax concessions for 70 000 hectares of plantations is $129 million; and

(b) calls on the Government to abolish those tax concessions, including the 13-month prepayment rule, which promote clearing of native forests and other native vegetation.

Question negatived.

Senator Brown —Again, I ask that both Senator Nettle and I be recorded as voting yes.

Senator Bartlett —Without causing undue excess work for Hansard, I would appreciate it if they could note the Democrats' vote in favour as well.