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Thursday, 8 November 1973
Page: 1648

Senator LAWRIE (QUEENSLAND) -Can the Minister representing the Minister for the Capital Territory inform the Senate whether rural freehold land in the Australian Capital Territory is valued for death duty purposes at what it is considered to be worth as an agricultural proposition or at what it would bring in the open market as a future urban proposition, that is, at market value as determined by sales evidence?

Senator WILLESEE -I think the land would be valued on the basis of an agricultural proposition and not as an urban proposition. But I am not sure because I am not a taxation expert. I will find out for the honourable senator.

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