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Thursday, 25 August 1960

Mr HAROLD HOLT (HIGGINS, VICTORIA) (Treasurer) - A request was received that donations towards the cost of the Empire Games be made deductible for income tax purposes, and that was one of the matters considered in connexion with the recently introduced Budget. Deductions of this character, however, have been limited to sums donated for charitable and educational purposes. It would have been a case of introducing a new principle altogether to have permitted deductions to be made in respect of donations for sporting purposes of this kind'. It would be very difficult to see what limits could, logically, be applied once that principle was adopted. It was decided, therefore, not to meet that request. However, the Commonwealth Government has already announced that it will make a grant of £100,000 towards the cost of conducting the games, and, along lines somewhat similar to those that were followed in the case of the Olympic Games, we are deferring the payment of interest by the State Government in respect of money advanced for housing constructed for the purposes of the games. The interest payable on loan moneys used for this purpose will be deferred to a date three months later than the conclusion of the games, by which time the State Government will presumably have arranged for alternate use to be made of the housing.

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