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Notice given 28 November 2012

2635  Senator Ronaldson: To ask the Minister representing the Minister for Trade and Competitiveness—

(1) How many projects outlined in the Government’s prospectus of 80 ‘shovel ready hotel construction projects’ have attracted capital investors since it was launched, and have key performance indicator targets been set for Austrade officers to drive outcomes in this regard.

(2) Is Austrade aware that the Government’s decision to double Managed Investment Trust (MIT) withholding tax in the 2012-13 Budget, 6 days after the prospectus was launched, has made investors wary of committing to long-term projects of this sort in Australia.

(3) Can the Minister advise whether Austrade has seen any evidence, and/or sought or received advice, that a number of projects under consideration have lost potential investors due to changes to the MIT withholding tax.

(4) What action is Austrade taking to restore confidence amongst investors that Australia is a safe place to invest in new hotel developments.