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Wednesday, 13 September 1972
Page: 1373

Mr Armitage asked the Treasurer, upon notice:

(1)   Is he able to provide the names of the companies of Australian origin registered in Vila in the New Hebrides.

(2)   Is this place of registration employed by these companies to avoid taxation; if so, in what way is this achieved.

Mr Snedden - The answer to the honourable member's question is as follows:

(1)   I am not able to provide these details.

(2)   It is believed that an important, and in many cases the sole, object of the incorporation of companies in the New Hebrides by Australians is to escape taxation. It is not practicable to describe all of the schemes that may be resorted to for this purpose. However, it is thought that most of the schemes would seek to take advantage of the fact that, while residents of Australia are subject to Australian income tax on incomes derived by them from sources in and out of Australia, companies or other persons who qualify as non-residents are subject to Australian tax only on income from sources in Australia. Such schemes may include highly artificial arrangements by which it is sought to give a New Hebrides source' to income originating in Australia. I need

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