Page 4135 - Week 13 - Thursday, 25 November 1993
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Legislation will also need to be enacted by the Federal Parliament to protect the revenues of the States and Territories. There is absolute unanimity among all governments that, whatever the outcome of the case, there will be no windfalls from the repayment of taxes. In the development of the legislative responses of the Federal, State and Territory governments, the combined efforts of Solicitors-General and of officers of Attorney-General's departments, Treasuries and revenue offices have been brought together. This is very much a cooperative effort that has occurred nationally.
As I stated when I presented my Bill, the High Court decision regarding Capital Duplicators is expected to be announced on 7 December. The court announced the decision date earlier this month, and that has left very little time to put in place the necessary legislation to safeguard the revenue should the decision be against the Territory. I recognise that members of this Assembly have had a very short time in which to consider these Bills. I apologise to them for that and I thank them for their swift response. As I say, it is necessary to deal with the matter in this urgent way in order to protect the Territory.
As I explained earlier, the worst case outcome for this Territory would involve some $200m. Quite clearly, that is a burden that, if we can, we most certainly should avoid. I believe that the Assembly does have an obligation, a responsibility, to take all responsible steps within its power to prevent what would be a devastating consequence to the Territory. I thank members for their support of these two Bills and also for their timely response to them.
Question resolved in the affirmative.
Bill agreed to in principle.
Leave granted to dispense with the detail stage.
Bill agreed to.
TAXATION (ADMINISTRATION) (AMENDMENT) BILL (NO. 2) 1993
Debate resumed from 23 November 1993, on motion by Ms Follett:
That this Bill be agreed to in principle.
Question resolved in the affirmative.
Bill agreed to in principle.
Leave granted to dispense with the detail stage.
Bill agreed to.
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