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Wednesday, 17 November 1976
Page: 2764

Mr MARTIN (BANKS, NEW SOUTH WALES) - My question is directed to the Treasurer. The Treasurer would be aware that during the term of the Labor Government legislation was introduced by the then Treasurer, the Honourable Frank Crean, to prevent Norfolk Island being used for income tax avoidance schemes and that that legislation prevented those abuses. Has the attention of the Treasurer been drawn to the report of the Norfolk Island Royal Commission, which indicated that tax avoidance schemes were still being practised on Norfolk Island, mainly in regard to Federal estate duty and State stamp duties? Will the Treasurer take urgent action to bring in appropriate legislation to prevent these abuses?

Mr Armitage - And have a look at the New Hebrides, too.

Mr LYNCH - I appreciate very much what the honourable gentleman has brought to my attention and to the attention of the House. I have certainly not seen the report of the Royal Commission, but I can assure the honourable gentleman that this Government shares his determination and, I would hope, that of all members in this House to make sure that neither Norfolk Island nor the other islands in its vicinity in that part of the Pacific Ocean can be used as tax avoidance havens. I will give the honourable gentleman's suggestion very serious and early consideration with a view to seeing whether there are areas that can be tightened up to stop tax evasion and to stop the use of Norfolk Island as a tax haven.

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