Page 4151 - Week 13 - Thursday, 10 November 1994
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Clearly,. it is the wish of this Government and, I would hope the wish of this Assembly, to provide ACTTAB with the flexibility to maximise its business opportunities and ensure its continued participation in the SuperTAB linked pool.
As the determination of levels of taxation and in turn, levels of Government revenue, are the responsibilities of the Treasurer, a formal arrangement involving the ACT Treasury, ACTTAB and the Bureau of Sport, Recreation and Racing is being developed to ensure that levels of income to the Government, ACTTAB and the Racing Industry are adequately considered in any decision to alter deduction rates.
The formal arrangement will ensure that the levels of return to the racing clubs will be protected by at least maintaining the relativities of dividend splitting.
Any decision to change the deduction rates will be determined by a disallowable instrument, and Members can be assured that the whole process will be transparent to this Assembly and the people of Canberra.
Madam Speaker, the introduction of the Betting (Totalizator Administration) Amendment Bill 1994 will provide the necessary flexibility to allow ACTTAB to further promote its services, and the racing product, in an entrepreneurial and professional manner.
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