Page 303 - Week 01 - Thursday, 14 February 1991

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Weapons Legislation

MR STEVENSON: My question is to the Attorney-General. In his presentation speech this morning on the Weapons Bill 1991, the Attorney-General stated:

Coincidentally, a significant proportion of the correspondence I received supporting a ban on pornography also defended the so-called right to bear arms.

Would the Attorney-General be good enough to inform this Assembly how many letters he received supporting a ban on X-rated pornography, which also spoke of the right of Australians to bear arms?

MR COLLAERY: I thank Mr Stevenson for his continued interest in that and other subjects. Thousands of letters on this subject appear to have gone across my desk in the last year, and I constantly noted references to immigration and weapons in a large number of those letters, which I have not retained.

Share Transactions Stamp Duty

MS FOLLETT: My question is again to Mr Kaine as the Treasurer. I refer him again to Premier Greiner's decision to abolish stamp duty on share transactions, which will cost the ACT budget around $11m and will, of course, lead to a transfer of resources to people in our community who are actually wealthy share transactors. I ask the Chief Minister and Treasurer: Does he agree that this is "a sensible move"?

MR KAINE: I am glad that the Leader of the Opposition has asked another question on this, because it gives me a chance to explode her myths and her scaremongering in terms of an $11m reduction in the budget. First of all, that is a total distortion, a total untruth, and the Leader of the Opposition knows it. The simple fact is that, of $18m revenue last year, only $247,000 related to the kind of transaction that will be affected by Premier Greiner's decision. That is $247,000 in a whole year, out of $18.3m. So it is a total absurdity on the part of the Leader of the Opposition to suggest, when we do not even have a stock exchange, that our budget could be affected by something of that order of magnitude. It is another case of the misinformation that Mr Humphries referred to before.

I note, Mr Speaker, that marketable security revenue can be categorised into three different sources. The first is the transfer of unlisted securities, where duty is paid by the purchaser; the second is the transfer off market, that is, they are not traded on the stock exchange, but listed as securities, where duty is also paid by the purchaser; and the third is the transfer on market, that is, where the

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