Page 2218 - Week 08 - Wednesday, 6 June 1990
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Our approach, compared with that of the Labor Party in opposition, has been quite unashamedly in favour of small business. Our commitment to small business can best be shown by our response today to the commercial tenancies report which indicates our deep commitment to small business. I am very pleased to hear the reports from small business people that they are absolutely ecstatic with the proposals.
Mrs Grassby: Dancing in the streets.
MR DUBY: Dancing in the streets, yes. They are ecstatic down at Monaro Mall, are not they, Mr Deputy Chief Minister? So let it be known once and for all that this method of raising revenue was chosen because of our commitment to small business. Also, I think it is worth while saying that quite lengthy consultation was held with various parts of the business and legal community. The Law Society during discussions argued for the adoption of marketable security rates and suggested that, if conveyance rates were to apply, potential business would be advised by them, in fulfilment of their duty to their client, to incorporate to minimise their stamp duty costs. As I said, the Government does not regard that to be an acceptable state of affairs where people are encouraged, in effect, to flirt with the true meaning of the legislation which is in place. I think that is something that the community as a whole would support. I commend the Bill, and I give notice that I will be moving some technical amendments in the detail stage.
Question resolved in the affirmative.
Bill agreed to in principle.
Detail Stage
Clause 1 agreed to.
Clause 2
MR DUBY (Minister for Finance and Urban Services) (5.10), by leave: Mr Speaker, I move:
Page 1, subclause (2), line 11, omit "1 June 1990", substitute "1 July 1990".
Page 2, subclause (3), lines 1-2, omit "1 December 1990", substitute "1 January 1991".
This amendment to subclause (3) substitutes "1 January 1991" for "1 December 1990", wherever occurring, to provide taxpayers with at least a full six-month period in which to obtain refunds on unused adhesive stamps.
Amendments agreed to.
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