Page 1030 - Week 03 - Thursday, 21 March 2019

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out the rates of penalty tax in the different circumstances. I commend it to the Assembly.

Schedule 1, part 1.7, amendment 1.46 agreed to.

Schedule 1, part 1.7, amendments 1.47 and 1.48, by leave, taken together and agreed to.

Schedule 1, part 1.7, amendment 1.49.

MR COE (Yerrabi—Leader of the Opposition) (6.15): The opposition opposes this clause and the following clauses as they relate to expanded debt recovery measures which place charges on properties and make the government the first creditor. We believe that there could be unintended consequences—and they are potentially inequitable—and we do not want Canberrans to be in a worse situation than they were before. As I mentioned earlier, the fact that lending ratios are changing, there is potentially a downturn in the market, rates and land taxes are on the rise, valuations are unpredictable and you have the federal Labor Party’s big tax on housing, now is not the time to be tinkering with the hierarchy of creditors.

MR BARR (Kurrajong—Chief Minister, Treasurer, Minister for Social Inclusion and Equality, Minister for Tourism and Special Events and Minister for Trade, Industry and Investment) (6.16): These amendments expand on existing debt recovery powers to enable the notification of outstanding tax debts to mortgagees or credit providers, the recovery of tax debts from mortgagees and the recovery of tax debts from the sale proceeds of land owned by a debtor. These new debt recovery options will help tax debtors and financiers better manage outstanding tax debts earlier. They provide more flexible options for the recovery of tax debts as compared with the existing regime. They provide more aggressive garnishee and sale of land options.

These amendments are required to protect revenue to ensure that all taxpayers pay their fair share of tax but, importantly, also align the ACT with other jurisdictions like New South Wales and Victoria who already utilise this approach.

Question put:

That schedule 1, part 1.7, amendment 1.49 be agreed to

The Assembly voted—

Question resolved in the affirmative.

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