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Thursday, 9 December 1971
Page: 4627

Dr Everingham asked the Treasurer, upon notice:

(1)   What - taxation, duly, primage and ether privileges and restrictions apply to one or more motor vehicle manufacturers as distinct from most manufacturers in Australia.

(2)   Can he say whether the overseas controlled profits of General Motors-Holdens Limited have been sufficient to buy out the initial Australian capital and to export dividends to the proprietors at an increasing rate without further capital inflow

(3)   Can he say what would have been the savings lo Australia in (a) foreign reserves and (b) public revenue, assuming an .unchanged rate of safes, if Australia had retained its maximum percentage of equity in the Company.

Mr Snedden - The answer to the honourable member's question is as follows:

(1)   Motor vehicle manufacturers are subject to the local content requirements of the Customs bylaw concessions for manufacturers of passenger motor vehicles, including utilities and panel vans.

(2)   This question concerns details of the internal financial affairs of an individual company and

I understand that annual reports published by General Motors Holden's Pty Limited contain some information of the nature requested by the honourable member.

(3)   No.

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