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NOTICE OF MOTION AMENDED

Senator Messner, pursuant to Standing Order 109, amended General Business, Notice of Motion No. 115 standing in his name, to read as follows: To move on the next day of sitting-That the Senate notes-

(a) the continuing uncertainty in the community caused by the failure of the Federal Government to introduce into the Parliament proposed taxation legislation affecting the following matters:

Subject

Date of

announcement

Resource Rent Tax...

18.4.84

Discounted and deferred interest securities (DINGO bonds, etc.)...

16.12.84

Interest Withholding Tax on discounts and Hire Purchase charges...

14.12.84

Non-cash business related benefits given to non-employees...

4.2.85

Income averaging for sports persons...

4.2.85

150 per cent deduction for research and development expenditure...

29.5.85

Fringe benefits tax...

19.9.85

Capital gains tax...

19.9.85

Imputation system of taxing company distributions...

19.9.85

Foreign tax credit system...

19.9.85

Provisional tax to be payable in instalments...

19.9.85

; and

(b) that the effects on incentive and industry of the proposed legislation on fringe benefits tax and capital gains tax will be devastating and will detrimentally affect the course of the Australian economy.