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Wednesday, 13 June 1984
Page: 2942

Senator Dame MARGARET GUILFOYLE(5.09) —It will be remembered that at the end of the second reading debate on the Income Tax Assessment Amendment Bill (No. 2) the Bill was sent to the Senate Standing Committee on Finance and Government Operations. The Senate has had a brief discussion on that Standing Committee's report. Following investigation by that Committee, members of the Opposition are still of the opinion that we are unable to accept the retrospective element in the Bill and we remain of the view that we expressed in the earlier debate. It will also be recalled that at the time of dealing with this legislation a private member's Bill from Senator Jack Evans of the Australian Democrats did have the support of the Opposition. Amendments will be moved to the Government's Bill in the Committee stage. These will have the effect of removing the retrospective element and I indicate that the Opposition therefore will be prepared to accept those amendments when they are so moved. For these reasons it is simply a restatement of our earlier view that the retrospective element is not acceptable and we therefore have no other alternative but to reject the Government Bill, unless the Government accepts the amendment circulated in the name of Senator Jack Evans.