Note: Where available, the PDF/Word icon below is provided to view the complete and fully formatted document
 Download Full Day's HansardDownload Full Day's Hansard    View Or Save XMLView/Save XML

Previous Fragment    Next Fragment
Thursday, 14 October 1971
Page: 2352

Mr WHITTORN (BALACLAVA, VICTORIA) - I address a question to the Prime Minister who is acting as Treasurer. Has the Government considered reintroducing double taxation deductibility on calls for mining shares of a speculative nature? By so doing would we reduce the. incidence of promising local mineral prospects falling into the hands of overseas companies?

Mr McMAHON - The answer to the first part of. the question is no, we have not done so - or not to the best of my knowledge, lt might be in the Treasury, but it has not been brought to me. On the second question. I will have inquiries made immediately to see whether this would help Australian corporations maintain a greater degree of equity. If it turned out to be right I could give the honourable member the assurance that it is the fundamental policy of the Government to maintain the maximum Australian equity investment in corporations established in this country.

Suggest corrections