Page 1264 - Week 04 - Thursday, 21 April 1994

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TREASURER FOR THE AUSTRALIAN CAPITAL TERRITORY

LEGISLATIVE ASSEMBLY QUESTION

Question no. 1159

Totalcare Industries Ltd - Tax Payments

MRS CARNELL - Asked the Treasurer upon notice on 22 February 1994:

(2) For each of the years in (1) what was the amount paid in respect of each tax for which an equivalent amount was paid.

(3) In respect of each tax (a)what is the current amount due to be paid in the 1993-94 financial year; (b)has this tax as yet been paid, all or in part; if so, (c)how much has been paid to date and (d) when will the balance be paid.

(4) Is the amount of equivalent tax paid by Totalcare Industries Limited paid on the same basis as taxes which apply to other firms in the industry; le paid on the same due dates and calculated in the same manner; if not, why not.

(5) Is the method of calculation of liability the same as for other firms in the industry, le based on earnings rather than cash received; if not, why not.

(6) If Totalcare Industries limited pays the equivalent tax at times other than other firms in the industry, what is the value of this deferral arrangement to Totalcare.

(7) Has Totalcare been the subject of an audit specifically in relation to the classification of items to ensure that the value of equivalent taxes is correct and that where there is understatement additional tax is paid, as would apply to other firms in the industry; 1_ this has not occurred, why not.

MS FOLLETT - The answer to the Members question is as follows:

(1) (a) Nil;

(b) $142,000.00; and

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