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Wednesday, 12 December 1973
Page: 2731

Senator WILLESEE (Western AustraliaMinister for Foreign Affairs) - Senator Wrightasked about the type of taxes. The Bill refers to 'the avoidance or evasion of tax imposed by a law of Australia'. Primarily, as Senator Wright forecast, this would relate to income tax but it covers taxation imposed by any law of Australia. Primarily, according to my advice, income tax is what is in mind. As for his question about avoidance of tax, people can legally do this now under the taxation legislation but that is not the point. As for his question about the wide ranging inquiry, I do not know what sort of delays are experienced in this sort of thing. I can certainly give an assurance that if there are any delays they will be kept to a minimum. I said in the second reading speech that this Bill was not aimed at interfering in any way with the genuine export of capital or the investment of capital in these islands. I thank Senator Wright for mentioning his impersonality in not referring necessarily to the New Hebrides or wherever else this might apply.

Bill agreed to.

Bill reported without amendment; report adopted.

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