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Monday, 24 May 1965

Senator McKENNA (Tasmania) (Leader of the Opposition) . - Mr. Deputy President, the Opposition supports the measure. It is a simple one which treats gifts paid to the Winston Churchill Memorial Trust as allowable deductions for income tax purposes. The same provision is extended to gifts that are made to the National Trust of Queensland. Gifts to both Trusts are already under the existing law free from gift duty. When this Bill is passed they will be deemed to be free from inincome tax.

The other main purpose of the Bill is to exempt from liability to income tax payments made pursuant to Commonwealth scholarships. That is a purpose which is approved. It has already been announced. At the same time, the proposal under the Bill is that amounts paid in respect of education expenses through Commonwealth scholarships will be taken into account in determining the consessional deduction to which parents would otherwise be entitled. That seems to be reasonable. The amounts paid for maintenance will not in any way be affected. As I have said, the Opposition supports the measure.

Senator DameANNABELLE RANKIN (Queensland) [4.3]. - I would like to express appreciation, on behalf of the National Trust of Queensland, of the fact that donations made to the Trust are to be exempted from the income tax provisions. I have been associated with the Trust for a long time. We have been disturbed by the fact that Queensland was the only State which did not receive this taxation benefit. Owing to the representations that have been made we will now receive it. I express our appreciation to the Government.

Question resolved in the affirmative.

Bill read a second time.

In Committee.

The Bill.

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