Next page . . . . Previous page . . . . Speeches . . . . Contents . . . . Debates(HTML) . . . . PDF . . . .

Legislative Assembly for the ACT: 2004 Week 06 Hansard (Thursday, 24 June 2004) . . Page.. 2697 ..

depreciation being counted as a community contribution, partly to stop this type of double counting.

After speaking with Clubs ACT, I have no problem with clubs claiming depreciation as a community contribution, as it allows licensees to spread the cost of an expensive acquisition over a number of years. However, I would have a problem with their claiming depreciation on an asset that they have already claimed as a capital payment, and that is what I am trying to address with this amendment.

In addition, the current section places restrictions on the type of capital payment that can be claimed. Only capital assets that are located in the territory and are available to the public can be claimed as a community contribution. However, this is not the case for depreciation, where there are no limits on the types of asset on which depreciation can be claimed. This means that a club could build some kind of facility in Queensland and could legitimately depreciate that asset and claim it as a community contribution here in the territory.

My amendment clarifies these two issues. It states that depreciation can only be claimed on an asset when it is located in the ACT and is available for use by the public. It ensures that depreciation cannot be claimed if the capital payment for that asset has already been claimed. I commend this amendment to the Assembly.

MR QUINLAN (Treasurer, Minister for Economic Development, Business and Tourism, and Minister for Sport, Racing and Gaming) (8.06): If, as Ms Dundas explains it, that is the case—and I have the nod from officials that that is the case—I think we can accept these amendments. The intention is that clubs can certainly claim what they invest in facilities, but certainly only once. We are happy to accept these amendments. If they do need to be cleaned up, we can come back and do it, but our intention is certainly that there will only be a single claim.

Amendment agreed to.

Clause 163, as amended, agreed to.

Clause 164 agreed to.

Clause 165.

MS DUNDAS (8.07): I seek leave to move amendments Nos 19 and 20 together.

Leave granted.

MS DUNDAS: I move amendments Nos 19 and 20 circulated in my name together [see schedule 2 at page 2756].

Ordered that the amendments be divided.

MS DUNDAS (8.07): Thank you, members. I am sorry for the confusion. Currently, only licensees who are clubs are required to give community contributions. However, after the passing of the Gaming Machine Amendment Act earlier this year, hotels and

Next page . . . . Previous page . . . . Speeches . . . . Contents . . . . Debates(HTML) . . . . PDF . . . .