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Thursday, 28 November 1974
Page: 2958


Senator COTTON (New South Wales) - This fairly weighty matter will occupy a very small part of our time. It is a proposal which is not objected to by the Opposition and refers to payroll tax which was in effect transferred to the States as their financial responsibility in September 197 1 as an exercise in giving them a capacity to raise more of their own revenue. This was a very sensible arrangement and was typical of the sensible economic and monetary behaviour of the previous government. At the same time the Territory rate was levied under Commonwealth legislation at the same rate as in the States, that is, 4'A per cent. The Premiers at their last Premiers Conference in June foreshadowed a rise in the rate to 5 per cent. Some States have already increased the rate from 4!£ per cent to 5 per cent. The Government sees very little point in having different rates between the Territories, under its administration, and the States, under their own administrations. The Opposition supports this view and accordingly welcomes the measure.

Question resolved in the affirmative.

Bill read a second time, and passed through its remaining stages without amendment or debate.







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