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Wednesday, 26 November 1980
Page: 27

Senator COLSTON - I ask the Minister representing the Prime Minister whether he can give a guarantee that the Government will not introduce a back door tax on capital gains by extending beyond 1 2 months the period in which the gain on an asset sold is taxable as income under section 26AAA.

Senator CARRICK - It is not the intention of the Government to introduce a capital gains tax of any kind. But, since certain technical matters have been raised by Senator Colston, I will bring the question to the attention of the Treasurer and seek his response.

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