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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.







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