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Legislative Assembly for the ACT: 1996 Week 4 Hansard (18 April) . . Page.. 1144 ..

CHIEF MINISTER FOR THE AUSTRALIAN CAPITAL TERRITORY

LEGISLATIVE ASSEMBLY QUESTION

Question No. 188

Debt Waivers - Stamp Duty

MS FOLLETT - Asked the Chief Minister upon notice on 26 March 1996:

In relation to the answer to Question on Notice No. 123 (Act of Grace payments), on 20 June 1995 you waived $168,000 of Stamp Duty to avoid double duty on a taxpayer -

1) Who was the taxpayer.

2) On what basis was the assessment made.

MRS CARNELL - The answer to the Member's question is as follows:

1) The waiver of this debt was performed by the Commissioner for ACT Revenue as delegate of the Chief Minister and therefore the identity of the recipient has not been disclosed due to the secrecy provisions of the Taxation (Administration) Act 1987.

2) As part of a corporate reconstruction the liquidation and distribution of the companies' assets had already incurred ACT Stamp duty and the imposition of further duty on the in specie acquisition of the assets would have constituted double taxation.

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