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TAXATION LAWS AMENDMENT BILL (NO. 2) 1995
TAXATION LAWS AMENDMENT BILL (NO. 4) 1995
INCOME TAX (FRANKING DEFICIT) AMENDMENT BILL 1995
INCOME TAX (DEFICIT DEFERRAL) AMENDMENT BILL 1995

Order of the day read for the adjourned debate on the motions of the

Parliamentary Secretary to the Minister for Primary Industries and

Energy (Senator Sherry) and the Minister for Immigration and Ethnic

Affairs (Senator Bolkus)--That these bills be now read a second time.

Debate resumed.

Proposed reference to committee: Senator Short moved the following

amendment in respect of the Taxation Laws Amendment Bill (No. 4) 1995:

At end of motion, add ", but the Senate, concerned at the nature,

scope, impact and implications of the proposed amendments set out in

Schedule 7 of the bill, resolves that the proposed amendments in

Schedule 7 be referred to the Economics Legislation Committee, for

inquiry and report by 13 February 1996".

Debate was interrupted while Senator Short was speaking.

At 12.45 p.m.--