Note: Where available, the PDF/Word icon below is provided to view the complete and fully formatted document
 Download Full Day's HansardDownload Full Day's Hansard    View Or Save XMLView/Save XML

Previous Fragment    Next Fragment
Friday, 30 October 1964

Senator McKENNA - I do not think it is used.

Senator Wright - We should have the words that are used in the Income Tax and Social Services Contribution Assessment Act.

Senator McKENNA - The Minister put before us a little while ago the words that are used in the income tax measure. " By way of gratuity " and " retiring allowance " were two of the terms I have in mind.

Senator Gorton - I did not give the definition of a retirement allowance.

Senator McKENNA - No, but reference was made to the terms " retiring allowance " and "gratuity". If the Government at this point of time described the payment, it would be sufficient. At present it is merely mentioned as a payment without any description.

Senator Wright - All you would need would be a provision that this was to be paid by way of retirement allowance?

Senator McKENNA - That is the suggestion I am making. Then the Commissioner of Taxation would know what was intended. I suggest that it should be put beyond all doubt. Frankly, I think the Government is making a mistake in not endeavouring to put the matter beyond all doubt.

Suggest corrections