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Wednesday, 28 February 1973
Page: 53

Mr CREAN (Melbourne Ports) (Treasurer) - I move:

That the Bill be now read a second time.

This Bill will amend the Sales Tax (Exemptions and Classifications) Act to exempt contraceptives from sales tax. This amendment will give formal effect to the announcement by the Prime Minister (Mr Whitlam) on 8th December last year that the Government had decided that the sales tax on contraceptives would be removed as from that date, the exemption will accordingly have retrospective effect to 8th December 1972. The Bill will also provide for the exemption of certain goods used in converting business and industrial equipment to the metric system. This exemption is being introduced following recommendations by the Metric Conversion Board for limited taxation concessions for the benefit of persons who are faced with the costs of converting items of plant and equipment to the metric system. In broad terms, it will exempt from sales tax parts and accessories used in the conversion of existing items of business and industrial equipment to the metric system.

In recognition of the progress some industries have already made towards changing over to the new system, the sales tax exemption will apply in respect of purchases of parts and accessories on or after 1st July 1971. After the Bill has come into operation, persons who have already paid sales tax on metric conversion parts and accessories purchased on or after 1st July 1971 may apply for refunds of the tax. A memorandum explaining the provisions of the Bill in detail is being circulated for the information of honourable members. I commend the Bill to the House.

Debate (on motion by Mr Chipp) adjourned.

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