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Wednesday, 20 May 1936

Senator A J McLACHLAN (SOUTH AUSTRALIA) (Postmaster-General) . - I cannot accept the amendment. This provision is in the law as it stands, and it is not the intention either of the Commonwealth or the States to extend it. Calls on shares in a mining company or syndicate may be regarded as expenditure which people make from year to year in the carrying on of their businesses; whereas application and allotment moneys are treated, apparently, as capital expenditure. Some mining companies are doing tolerably well, and, although I am a strong supporter of one of the industries concerned, my advice to those in control of them is to leave well alone. I, therefore, suggest that the honorable senator should not press his amendment.

Amendment negatived.

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