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Thursday, 5 December 1985
Page: 3046

Senator CHIPP (Leader of the Australian Democrats)(4.43) —The Income Tax Assessment Amendment Bill (No. 2) 1985 involves one of the 15 concessions that the Australian Democrats requested and the Government agreed to. In our discussions with the Government we first said that we would like the expenditure on water conservation written off over one year, as is the present situation. I was persuaded, as was Senator Siddons, by the Treasurer, Mr Keating, that in the past this has facilitated unscrupulous people undertaking a tax rort. We think that the lessening of the period from five to three years is a reasonable compromise, for which we thank the Government.

Question resolved in the affirmative.

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