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Wednesday, 17 June 2009
Page: 6486

Mr Forrest asked the Treasurer, in writing, on 16 March 2009:

(1)   Has he received a report on the Government’s review of the costs and benefits of non-forestry managed investment schemes; if not, when will he receive it; if so,

(a)   when will it be made available for public comment, and

(b)   by what date will the Government publicly respond to it.

(2)   Does he agree that non-forestry managed investment schemes have an unfair taxation advantage in competing against family-owned horticultural enterprises.

Mr Swan (Treasurer) —The answer to the honourable member’s question is as follows:

(1)   Yes.

(a)   The Assistant Treasurer and Minister for Competition Policy and Consumer Affairs publicly released the findings of the review on 29 May 2009.

(b)   The Government will consider whether there is a need for changes to the tax treatment of non-forestry MIS in light of the recommendations of the Review of Australia’s Future Tax System.

(2)   See answer to 1(b).