Question on Notice regarding potential revenue loss due to duty avoidance and the government's response, including estimated revenue recovery and legislative action.

AnsweredQoN 711Legislative Assembly
Asked
13 September 2000
Member
Portfolio
Assisting the Treasurer

QuestionView source ↗

(ii) 2001-2002; (iii) 2002-2003; and (iv) 2003-2004?
(iii) 2002-2003; and (iv) 2003-2004?
(iv) 2003-2004?
(c) on what date was the Minister first given the advice on the possible avoidance?

AnswerView source ↗

Answered
10 October 2000
Response time
27 days
The Minister Replied:
(a) The State Revenue Department has advised that, based on avoidance detected to date, it is anticipated that additional duty in the order of $35 million in a full year could result from the proposed amendments. However, that figure could vary significantly from year to year due to fluctuations in economic activity influencing the level and value of transactions.
(b) The legislation will be introduced into the Legislative Assembly as soon as the Government is confident that the amendments are in a form that will effectively deal with the problems at hand. It is intended that the legislation will operate with effect from 10 August 2000, the date of my Ministerial Statement to the Legislative Assembly.
(c) I was first provided with advice on this matter by the Acting Commissioner of State Revenue on 4 July 2000.

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