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Tuesday, 2 May 1961


Mr UREN (REID, NEW SOUTH WALES) - Is the Treasurer aware that the Annual Bulletin of Overseas Investment published by the department under his administration discloses that the new capital inflow from the United States of America in the period from 1953 to 1959 amounted to £61,000,000. while the outflow to that country was £83,000,000, giving an adverse balance for Australia of £22,000,000? Also, is he aware that during the same period United States of America investors in Australia were saved £20,000,000 by the double taxation agreement entered into by this Go vernment? If the right honorable gentleman is not aware of these facts, will he obtain the figures from his department and arrange for a review of the double taxation agreement between Australia and the United States of America, so that this country may obtain a better deal than it is getting at present?







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