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Legislative Assembly for the ACT: 2004 Week 06 Hansard (Thursday, 24 June 2004) . . Page.. 2779 ..

(4) Have there been any changes proposed to the initial intention to apply this new tax to private car parks located in Civic, Woden, Belconnen and Tuggeranong;

(5) What exemptions, if any, are now being proposed from the application of this new tax;

(6) What concessions, if any, are being proposed to ameliorate the impact of this new tax on community and non-profit organisations.

Mr Quinlan: The answers to the member’s questions are as follows:

(1) The proposed Parking Space Levy will not be proceeding in the 2004-05 financial year.

(2) See page 104 of the 2004-05 Budget Paper No. 3.

(3) After extensive consultation with the interested parties the Government has decided that the proposed Levy needed further consideration by the Sustainable Transport Working Group.

(4) Refer to (3) above.

(5) Refer to (3) above.

(6) Refer to (3) above.

Superannuation
(Question No 1492)

Mr Smyth asked the Treasurer, upon notice, on 4 May 2004:

(1) In relation to the management of investments held within the Superannuation Provision Account (SPA) and further to answers to Questions on notice Nos 340 and 1280, when did the A.C.T. Government make the decision for the SPA’s investment portfolio to go overweight [sic] cash and Australian fixed interest, as noted in the annual report of Treasury for 2001-02;

(2) When the decision was made to allocate at least 54 per cent of the SPA portfolio to cash and Australian fixed interest assets, were appropriate fund managers already in place to handle this change in asset allocation strategy;

(3) Was the basis for this change in asset allocation strategy a result of appropriate fund managers not having been appointed across all asset classes, as noted in the answer in paragraph (2) for Question on notice No 1280;

(4) If the appointment of fund managers was not the reason for the change in asset allocation strategy at that time, what was the reason for this change having been made;

(5) Given that a decision was made during 2001 to allocate at least 54 per cent of the SPA portfolio to cash and Australian fixed interest assets, what is the basis for the comment by the Chief Minister, in his media release of 28 October 2002 in which he stated, that the Government has acted to address the situation by adopting a more defensive position in the light of the collapse in international [equity] markets and has now changed the

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