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Friday, 15 November 2002
Page: 6476

Senator LUDWIG (9:36 AM) —I do not particularly want to waste time, but I think it is important to at least put on the record at this point in time that it is clear that the statements of reasons for the introduction and passage of the Australian Crime Commission Establishment Bill 2002, the New Business Tax System (Consolidation, Value Shifting, Demergers and Other Measures) Bill 2002 and the New Business Tax System (Franking Deficit Tax) Amendment Bill 2002 clearly provide the purpose of the bills and reasons for urgency. They clearly articulate these reasons. For example, in relation to the new business tax system bills, they indicate that the reason for urgency is that the consolidation regime and the simplified imputations system commenced on 1 July 2002. It is therefore important that the measures in the legislation are enacted as soon as possible to enable taxpayers and their advisers to put an arrangement in place for the 2002-03 income year. The government has been able to make its case in relation to those matters. It is unusual to allow bills to come in to be dealt so late in the sitting pattern when there is no agreement. In this instance, there is agreement that the exemption to the cut-off should apply and therefore the opposition supports the motion.

Question agreed to.