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Tuesday, 26 September 1972
Page: 1185

Senator COTTON (New South Wales Minister for Civil Aviation) - I move:

That the Bill be now read a second time.

This Bill is complementary to the Gift Duty Bill that has just been introduced. At present no gift duty return needs to be furnished unless gifts amounting to $3,000 - three-fourths of the existing exemption of $4,000 - are made in a relevant period. This Bill will raise the amount of gifts requiring a return to $7,500, that is, threefourths of the new exemption of $10,000. I commend the Bill to the Senate.

Debate (on motion by Senator Wilkinson) adjourned.

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