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Thursday, 15 June 1989
Page: 4079

Senator WATSON(11.47) —Ultimately it spills over to individuals, does it not? Who are the beneficiaries of these funds? If the Minister had listened carefully, he would have heard me say `funds and individuals', and I hope I said it in that order, because the ultimate recipients are individuals. They are the people for whom I am concerned. I am concerned about the complexities that are faced by these funds, such as the additional software that they will have to put into their computer programs to be able to feed this out. I think we have to address the immediate problem. When is the Minister going to give us this advice? I think it has to be part and parcel of this package of legislation. I think we need it today, before this legislation is passed by this chamber, because it is pertinent to the passage of this legislation. Can the tax officers and the ISC give us information on how people are going to proceed, given the complexity of the issues that have been raised by proposed new section 276-using this as an ambit claim in relation to all notices?

Senator Walsh —I will give you an answer in a couple of minutes.