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Legislative Assembly for the ACT: 1998 Week 6 Hansard (1 September) . . Page.. 1602 ..

STAMP DUTIES AND TAXES (AMENDMENT) BILL 1998

Debate resumed from 25 August 1998, on motion by Ms Carnell:

That this Bill be agreed to in principle.

MR QUINLAN (11.10): Mr Speaker, the principle behind this amendment is to protect the Territory against some poor definitions in existing legislation which have come to light as a result of a case - a Victorian case, I understand - that was lost. It appears to be a purely housekeeping measure to strengthen the Bill to ensure that the Territory does not miss out on revenue. Therefore, we support the Bill.

MS CARNELL (Chief Minister and Treasurer) (11.11), in reply: Mr Speaker, the Stamp Duties and Taxes (Amendment) Bill 1998 makes, I think, important amendments to existing legislation. These amendments, as we have all said, were necessary in removing uncertainty for taxpayers about the validity of stamp duty to be collected by the ACT for share buyback transactions. Mr Speaker, I think it is always appropriate for governments to take appropriate action when these sorts of situations potentially arise, rather than sit on our hands and hope for the best. I thank members of the Assembly for their support on this legislation and for ensuring that ACT revenue is supported.

Question resolved in the affirmative.

Bill agreed to in principle.

Leave granted to dispense with the detail stage.

Bill agreed to.

INSURANCE LEVY BILL 1998

Debate resumed from 25 June 1998, on motion by Mr Humphries:

That this Bill be agreed to in principle.

MR QUINLAN (11.12): The Opposition does not support this Bill. The Government has tried to sell its budget to the people of Canberra as "clever" and "caring", but these are just words - the same propaganda as people are now beginning to see through and are rapidly tiring of. This budget has been shown up as neither clever nor caring. Perhaps no measure in the budget fails the criteria more obviously than does the Insurance Levy Bill. "Dumb" and "insensitive" are the words that spring to mind when one considers this particular revenue measure.

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