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Wednesday, 4 November 1992
Page: 2658

(Question No. 1823)

Mr Truss asked the Minister for the Arts, Sport, the Environment and Territories, upon notice, on 20 August 1992:

  Has the Government allocated an additional $13.8 million under the Fraser Island Structural Adjustment Assistance Program to offset the effect of capital gains tax on compensation recipients; if so, which (a) companies and (b) individuals will be receiving additional compensation.

Mrs Kelly —The answer to the honourable member's question is as follows:

  I refer the honourable member to page 3.141 of the 1992-93 Budget Paper No. 1. The 1992-93 payment of structural adjustment assistance to Queensland following world heritage nomination of the Fraser Island and Great Sandy Region has been increased by $13.8 million to $20.8 million. The increase is provided to offset the effect of federal taxation levied on businesses receiving compensation payments from the Queensland Government.

  As it will be the responsibility of the Queensland Government to determine the distribution of this funding, I cannot provide full details of the disbursement of any additional compensation.