Page 389 - Week 03 - Thursday, 1 June 1989

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With the benefit of the early experience of the States/NT it was decided that administrative difficulties being encounter by the use of arbitrary limits (eg they can be easily avoided) and a more equitable approach to the fundamental issue achieved, if the restrictions were not included in the ACT laws.

In matters of taxation policy it is not always possible or prudent to engage in consultation which gives early notice. of the Governments intentions. Conventions precludes giving retrospective effect to tax laws (unless notice of the intention has been given) therefore strict secrecy must, on occasions, be maintained to avoid revenue losses.

For reasons of urgency and the potential revenue significance of the measure no consultation was undertaken with relevant bodies w before the Determination was made.

The ACT Revenue office has issued a detailed circular (Attachment 2) explaining the operation of the Determination.

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