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Thursday, 19 September 1974
Page: 1240

Senator WEBSTER (VICTORIA) - My question is directed to the Minister representing the Treasurer. Does he believe that the Government has adequately explained or that the public at the present time has the slightest awareness of the impact of the new capital gains tax introduced in the Budget? Does the Government acknowledge or understand that this tax will have an inhibiting effect on initiative both by individuals and by companies in the community? Will the Minister explain fairly to the public that this new tax will act as a new and vicious death duty? Will he have an explanatory statement produced so as to alert all Australian citizens to the incidence of the new tax?

Senator WRIEDT -I will refer the question to the Treasurer for a reply.

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