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Wednesday, 11 November 1964

Senator WRIGHT (Tasmania) .- I had tabled an alternative amendment to that which has been defeated. The proposed amendment which has been defeated was to exempt a bona fide transaction made without any intention to evade income tax. Anticipating that the first consideration might fail, I intended to put the alternative - to exempt from the punitive tax of 10s. in the £1, a settlement reasonably and bona fide made for the maintenance or advancement of a relative of the settlor. I regret that inconvenience may have been caused to other honorable senators who were interested in the amendment. I am grateful to them .for their interest. I am aware that other honorable senators wish other business to be called on. I abandoned my intention to proceed with the second proposed amendment because I thought that there would be no further point in taking up the time of the Senate, but if Senator Mattner, who supported me when I moved the last amendment, wishes me to proceed with the second proposed amendment, I shall formally move it so that it may become a matter of record.

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