Page 3462 - Week 11 - Thursday, 14 October 1993
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Madam Speaker, as part of the Federal Government's micro-economic reform package it passed the Industrial Relations Amendment Act 1990, which raised the minimum membership level for federally registered unions and employer organisations. This Bill will provide stamp duty relief for organisations that are amalgamating in order to comply with these changed membership requirements. Transfers of motor vehicles, marketable securities and real property will be subject to concessional duty under these provisions. This initiative will enhance the Commonwealth Government's labour market reforms, give legislative effect to a commitment I gave to the Prime Minister to support such reforms, and bring the ACT into line with New South Wales, Victoria and South Australia. The provision of these additional concessions for the transfer of assets in domestic relationships and between employment organisations is expected to have minimal negative effect on revenues.
Amendments have also been introduced to improve the collection of stamp duty on insurance premiums. Persons providing insurance cover in the ACT will now be required to register with the Commissioner for ACT Revenue, and face greater penalties for non-compliance. Previously such persons were not required to register with the commissioner and were therefore not compelled to lodge a return or to pay the tax. To complement this initiative, persons who insure with unregistered insurers will themselves be liable for stamp duty. This Bill also proposes extending the stamp duty net to include duty on insurance premiums paid outside Australia in respect of a risk located in the ACT. This will correct a weakness in the legislation by dutying not only those premiums received in Australia, as is currently the situation, but also those premiums received outside Australia by overseas insurers. These amendments will provide a more equitable distribution of stamp duty obligations, and ensure that the commissioner is able to effectively assess and collect stamp duty liabilities. I present an explanatory memorandum to the Bill.
Debate (on motion by Mr Humphries) adjourned.
NOISE CONTROL (AMENDMENT) BILL 1993
MR WOOD (Minister for Education and Training, Minister for the Arts and Minister for the Environment, Land and Planning) (10.36): Madam Speaker, I present the Noise Control (Amendment) Bill 1993.
Title read by Clerk.
MR WOOD: I move:
That this Bill be agreed to in principle.
The Noise Control Act was enacted in 1988 in order to control excessive noise from residential and non-residential premises. The Act prescribes maximum permissible noise levels for a wide range of noise generating equipment and activities. We are not at this stage going to include the Opposition in that. There are certain activities or noise sources which are covered under other legislation - for example, noise from motor vehicles travelling on a public street, which is covered by the Motor Traffic Act 1936.
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