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TAXATION LAWS AMENDMENT BILL 1984 INCOME TAX ASSESSMENT AMENDMENT BILL (NO. 4) 1984INCOME TAX (INTERNATIONAL AGREEMENTS) AMENDMENT BILL 1984

The Senate, according to Order, resolved itself into Committee for the further consideration of the Bills.

In the Committee

INCOME TAX ASSESSMENT AMENDMENT BILL (NO. 4) 1984- Consideration resumed of clause 2, and of the amendments moved thereto by Senator Jack Evans, viz: Page 1, sub-clause (1), line 9, leave out ''sub-section (2)'', insert ''sub-sections (2) and (3)''.

Page 1, after sub-clause (2), add the following new sub-clause: ''(3) Paragraph 9 (1) (b), insofar as it inserts paragraph 78 (1) (ad) into the Principle Act, shall be deemed to have come into operation on 1 July 1982.''.

Question-That the amendments be agreed to-put and negatived.

Clause 2 further debated and agreed to.

Clauses 3 to 8, by leave, taken together and agreed to.

Clause 9 read- Senator Messner moved an amendment, viz: Page 6, sub-clause (3), lines 17 to 19, leave out the sub-clause, insert the following sub-clauses: ''(3) Sub-paragraph 78 (1) (a) (lxxxi), and paragraph 78 (1) (ac), of the Income Tax Assessment Act 1936 apply to gifts made after 21 August 1984.

''(4) Paragraph 78 (1) (ad) of the Income Tax Assessment Act 1936 applies to gifts made after 30 June 1982.''.

Question-That the words proposed to be left out be left out-put.

The Committee divided-

AYES, 28

Senators- Archer Bjelke-Petersen Boswell Carrick, Sir John Chipp Collard (Teller) Crichton-Browne Durack Evans, Jack Guilfoyle, Dame Margaret Hamer Harradine Hill Jessop Lajovic MacGibbon Macklin Martin Mason Messner Missen Rae, Peter Scott Teague Townley Walters Watson Withers

NOES, 24

Senators- Childs Coleman Colston Crowley Elstob Evans, Gareth Foreman Georges Gietzelt Giles Grimes Hearn Jones McClelland McIntosh (Teller) Maguire Primmer Ray, Robert Reynolds Robertson Ryan Sibraa Walsh Zakharov

And so it was resolved in the affirmative.

Question-That the words proposed to be inserted be inserted-put and passed.

Clause 9, as amended, further debated and agreed to.

Clauses 10 to 13, by leave, taken together and agreed to.

Clause 14 read- Senator Messner moved an amendment, viz: Page 8, after proposed new sub-section 80G (2), insert the following new sub-section: '' '(2A) Where the existence of non-voting, redeemable preference shares in a subsidiary does not have any relevance to the beneficial ownership of that subsidiary, they will be disregarded for the purposes of paragraph (2) (a).''.

Debate ensued.

Question-That the words proposed to be inserted be inserted-put and negatived.

Clause 14 agreed to.

Remainder of Bill, by leave, taken as a whole, debated and agreed to.

Bill, as amended, agreed to.

Papers: Senator Harradine, by leave, laid upon the Table the following Papers: De facto Relationships-Background Notes- Correspondence (2) from the Director-General, Department of Social Security, to State Directors, dated 12 March 1965 and 29 October 1973.

Case Histories (4), dated 12 May 1973, 12 August 1973 (2) and 12 September 1973.

INCOME TAX (INTERNATIONAL AGREEMENTS) AMENDMENT BILL 1984- Bill, by leave, taken as a whole and agreed to.

Taxation Laws Amendment Bill 1984 and Income Tax Assessment Amendment Bill (No. 4) 1984 to be reported with amendments.

Income Tax (International Agreements) Amendment Bill 1984 to be reported without amendment.

The Acting Deputy-President (Senator Coleman) resumed the Chair; and the Chairman of Committees (Senator Hamer) reported accordingly.

On the motion of the Minister for Resources and Energy (Senator Walsh) the Report from the Committee was adopted, and the Bills read a third time.