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TAXATION LAWS AMENDMENT (INFRASTRUCTURE BORROWINGS) BILL 1994
INFRASTRUCTURE CERTIFICATE CANCELLATION TAX BILL 1994

Messages from the House of Representatives were reported transmitting

for the concurrenceof the Senate the following bills:

Message no. 421, dated 6 December 1994--A Bill for an Act to amend the

law relating to infrastructure borrowings.

Message no. 420, dated 6 December 1994--A Bill for an Act to impose a

tax in respect of the cancellation of infrastructure borrowing

certificates.

The Minister for Small Business, Customs and Construction (Senator

Schacht) moved--That these bills may proceed without formalities, may be

taken together and be now read a first time.

Question put and passed.

Bills read a first time.

Senator Schacht moved--That these bills be now read a second time.

Explanatory memorandum: Senator Schacht tabled a revised

explanatorymemorandum relating to the Taxation Laws Amendment

(Infrastructure Borrowings) Bill 1994.

On the motion of Senator Panizza the debate was adjourned.

On the motion of Senator Schacht resumption of the debate was made an

order of the day for a later hour.