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Wednesday, 20 May 1936

Senator A J McLACHLAN (SOUTH AUSTRALIA) (Postmaster-General) . - A conference of Commonwealth and State Ministers considered several of these matters and came to an agreement concerning them. It would indeed be unfortunate if the Commonwealth were now to do something which would destroy the existing harmony. Tor instance, if one piece of legislation allowed dental expenses as a deduction whilst others did not, that uniformity which is most desirable would not be achieved. As several of these matters will be reconsidered at a further conference to be held in September, I ask the committee to allow the clause to pass now.

Clause agreed to.

Clause80 - (1.) For the purposes of this section, a loss shall he deemed to be incurred in any year when the allowable deductions (other than the concessional deductions and the deduction allowable under this section) from the assessable income of that year exceed the sum of that income and the net exempt income of that year, and the amount of the loss shallbe deemed tobe the amount of such excess.

(2)   . .. . Provided that, if the GovernorGeneral by proclamation so directs, the period of three years shall, as on and after such date as is specified in the proclamation, be substituted for the period of four years specified in this sub-section.

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