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Notice given 23 September 2002

678  Senator Webber: To ask the Minister representing the Treasurer—

(1) When will legislation be introduced that will allow for workers to be paid their entitlements ahead of banks and other creditors.

(2) Will that legislation apply to any current liquidations.

(3) In the case of Computerised Holdings Pty Ltd, did the liquidator identify the cause of liquidation as being insolvent trading; if so, why did the Australian Securities and Investment Commission not prosecute.

(5) What are the criteria being used for making claims against the liquidator in the case of Computerised Holdings.

(6) Is it intended that legal advice be sought on any distribution of assets ahead of the payment of workers’ entitlements.

679  Senator Webber: To ask the Minister for Revenue and Assistant Treasurer—

(1) What is the anticipated cost of the decision to allow a corporate group to transfer losses and be taxed as a single entity.

(2) Is there any truth to the claim by some mining executives that this new arrangement will allow them to unlock $11 billion in losses and enjoy a tax holiday for 20 years.

(3) Is it true that, under these new arrangements, businesses will be able to revalue all assets to ‘market value’ without having to pay capital gains tax on the revaluations.

(4) Is it true that for depreciation purposes the new ‘market value’ can be used as an expense over the estimated useful life of the asset.