Bills Digest no. 140 2008–09
Tax Laws Amendment (2009 Measures No. 3) Bill
2009
WARNING:
This Digest was prepared for debate. It reflects the legislation as
introduced and does not canvass subsequent amendments. This Digest
does not have any official legal status. Other sources should be
consulted to determine the subsequent official status of the
Bill.
CONTENTS
Passage history
Purpose
Background
Main provisions
Contact officer & copyright details
Passage history
Date
introduced: 14 May
2009
House: House of Representatives
Portfolio: Treasury
Commencement:
The formal provisions and
Schedules 2 and 4 commence on Royal Assent. Parts 1 and 3 of
Schedule 1 commences on the day after the Act receives Royal
Assent. Part 2 of Schedule 1 commences on 1 July 2014 and
Part 1 of Schedule 3 commences on 1 July 2009. Parts 2, 3 and
4 of Schedule 3, operate retrospectively, with Parts 2 and 3
commencing on 1 July 2008 and Part 4 commencing on 12 May
2009.
Links: The
relevant links to the Bill, Explanatory Memorandum and second
reading speech can be accessed via BillsNet, which is at http://www.aph.gov.au/bills/.
When Bills have been passed they can be found at ComLaw, which is
at http://www.comlaw.gov.au/.
The Bill amends the Taxation
Administration Act 1953 (TAA 1953), the Petroleum Resource
Rent Tax Assessment Act 1987 (the PRRTA Act) and the
Income Tax Assessment Act 1997 (ITAA 1997).
It may assist to include some details about the amendments at
this point. The Bill amends the TAA 1953:
- to set the adjustment for gross domestic product (GDP
adjustment) at 2 per cent for the 2009 10 income year for taxpayers
who pay quarterly pay-as-you-go (PAYG) instalments using the
GDP-adjusted notional tax method (Schedule 1),
and
- to allow taxpayers who are voluntarily registered for goods and
services tax (GST) and who choose to remit GST annually to choose
to make their PAYG instalments annually if they meet the new
eligibility tests (Schedule 2).
- It amends the PRRTA Act:
- to introduce a functional currency (or foreign currency) rule
into the petroleum resource rent tax in order to reduce compliance
costs for petroleum rent resource taxpayers who keep their
financial accounts in a foreign currency
- to ensure that all exploration expenditure (including
expenditure incurred outside the retention lease area but inside an
exploration permit area) is deductible for PRRT purposes by
inserting internal petroleum provisions
- to enable a petroleum project to claim a deduction or receipt
if another project participant processes his or her petroleum prior
to the petroleum resource rent tax taxing point, and
- to permit a 150 per cent upfront deduction for petroleum
exploration expenditure incurred in the 2009 annual offshore
acreage release by extending the offshore exploration incentive
(Schedule 3).
Finally, the Bill amends the ITAA 1997 to expand the list of
deductible gift recipients (DGRs) and thus enable taxpayers to
claim income tax deductions for gifts to the Diplomacy Training
Program Limited, the Royal Institution of Australia Incorporated
and the Leeuwin Ocean Adventure Foundation Limited
(Schedule 4).
As the Bill has no central theme, the Digest deals
simultaneously with the background and main provisions of each of
the four schedules to the Bill
Schedule 1 amends the TAA 1953 to set the GDP
adjustment at 2 per cent for the 2009 10 income year for taxpayers
who pay quarterly PAYG instalments using the GDP-adjusted notional
tax method. In announcing the measure on 28 March 2009, the
Government said the measure will provide relief for about 1.5
million taxpayers, primarily small business at a difficult time
.[1] The reduction is
intended to reflect the expected increase in the Consumer Price
Index (CPI), rather than previous years GDP figures.[2]
Ordinarily the GDP adjustment using the formula in the TAA 1953
is around 9 per cent, which means that without the reduction, PAYG
taxpayers would be paying around 6 per cent more tax (by
instalments) than they are ultimately assessed as liable to pay at
the end of the financial year.[3] While ordinarily any over-payment of tax is
refunded to the taxpayer after his or her tax liability is assessed
at the end of the relevant income year, the measure means that
small business (and other taxpayers who use the PAYG system) will
have more cash in their own hands now (when they might need it to
keep their business afloat) rather than waiting till their tax
liability is assessed at the end of the relevant income
year.[4]
By setting the GDP adjustment at 2 per cent for the 2009 10
income year now, the measure also saves taxpayers from the
possibility of paying large penalties that may be incurred as a
result of underestimating their income and reducing their PAYG
instalments to match the underestimated income.
The measure is intended to help PAYG taxpayers by letting them
know in advance exactly what amount they are required to pay by
periodic instalment, and thereby freeing up money that would
otherwise be paid to, and held by, the Australian Tax Office (ATO)
pending the final assessment of the taxpayer s assessable income at
the end of the income year. The Assistant Treasurer stated in his
second reading speech for the Bill that the reason for the measure
is to provide cash flow benefits to small businesses, self-funded
retirees and other eligible taxpayers by ensuring that their PAYG
instalment amounts more closely approximate their actual income tax
liability for the 2009-10 income year .[5]
Subdivision 45 L of Schedule 1 to the TAA 1953 sets out how the
Commissioner of Taxation works out the amount of quarterly PAYG
instalment on the basis of GDP-adjusted notional tax. The formula
for how the Commissioner works out GDP-adjusted notional tax is set
out in section 45 405 of Schedule 1. Item 1 of
Schedule 1 to the Bill amends the definition of
the term GDP adjustment in subsection 45 405(3) of
Schedule 1 to the TAA 1953 to mean either:
- if the current year is the 2009 10 income year, 2 per cent,
or
- the percentage arrived at by applying the formula appearing
below (which is ostensibly the same as in the current provision),
rounded to the nearest whole number, or 0 per cent if the
percentage worked out using the formula is negative):
This is not the first time the Government has set the GDP
adjustment for an income year for taxpayers who pay quarterly PAYG
instalments using the GDP-adjusted notional tax method. For
example, earlier this year a similar reduction was made by Schedule
1 to the Tax Laws Amendment (2009 Measures No. 1) Act
2009.[6] There
the GDP-adjusted amount was reduced by 20 per cent for the
instalment quarter in which 31 December 2008 fell. It applied to
any small business entity for the 2007 08 or 2008 09 income year; a
partner of a partnership that is a small business entity for the
2007 08 or 2008 09 income year; or a beneficiary of a trust that is
a small business entity for the 2007 08 or 2008 09 income
year.[7] It only
applied to payers of four quarterly instalments.[8]
Part 2 of Schedule 1 to the Bill contains
amendments to the TAA 1953 that will apply on 1 July 2014, when the
amendments contained in Part 1 of Schedule 1 end. Item
3 sets out the definition of GDP adjustment in
subsection 45 405(3) of Schedule 1 to the TAA Act that will apply
after 1 July 2014. From that date, the reference to the figure of 2
per cent applying for the 2009 10 income year is repealed, but the
method for calculating the percentage for other years (contained in
proposed paragraph 45 405(3)(b) see item
1 of Schedule 1 to the Bill) will remain the same as it
appears following the passage of the Bill.
There will be no net cost to the Commonwealth over the full
forward estimates period.[9]
Schedule 2 amends Division 45 of Schedule 1 to
the TAA 1953 to allow taxpayers who are voluntarily registered for
GST and who choose to remit GST annually to choose to make their
PAYG instalments annually if they meet the new eligibility
tests.[10]
Currently, because of their voluntary GST registration, some PAYG
taxpayers are not eligible to choose to make their PAYG instalments
annually and must remit their PAYG payments by periodic (usually
quarterly) instalments. The ability to choose to make PAYG payments
annually means that the taxpayer who is voluntarily registered for
GST and who chooses to pay GST annually will be able to pay GST and
PAYG tax at the same time, thus reducing compliance and
administrative costs.
The measure was announced on 13 May 2008 as part of an
explanation of the Rudd Government s plans to deal with tax
measures announced by the Howard Government but not enacted before
the federal election in 2007.[11] The measure appears (as item 28) in a list of
Category 3 measures that the Rudd Government has decided to proceed
with and where legislation is not expected to be introduced before
2009 .[12]
The main provision in Schedule 2 to the Bill is
item 3, which amends section 45 140 of
Schedule 1 to the TAA 1953 to allow taxpayers who are
voluntarily registered for the GST to choose to pay annual PAYG
instalments, provided:
- they are not a partner in a partnership that is required to be
registered under Part 2 5 of the A New Tax System (Goods and
Services Tax) Act 1999 (the GST Act)
- their most recent notional tax (notified by the Commissioner)
is less than $8000, and
- in the case of a company, the company is neither a participant
in a GST joint venture under Division 51 of the GST Act, nor part
of an instalment group .[13]
Items 4 14 make consequential amendments to
existing sections 45 140, 45 150, 45 155, and 45 160 to recognise
the amendments to section 45 140 contained in items 2
and 3.[14]
Item 15 states that the amendments in Schedule
2 to the Bill apply in relation to instalments for income years
commencing after 30 June 2009.
The measure will cost $230 million over four years (2009 10 to
2012 13).[15]
Schedule 3 deals with amendments to the
petroleum resource rent tax regime. As the ATO explains:
The petroleum resource rent tax applies to all
petroleum projects in offshore areas (or Commonwealth Adjacent
Areas) under the Offshore Petroleum Act 2006, other than
production licences derived from the North West Shelf exploration
permits WA-P-1 and WA-P-28. These are subject to the excise and
royalty regime.[16]
The petroleum resource rent tax has applied since 1 July 1987
and is assessed on either a project basis or production licence
area. It applies to taxable profits from the recovery of petroleum
in a project (including crude oil, condensate, natural gas,
liquefied petroleum gas (LPG), and ethane). It includes the project
s treatment and processing facilities that are integral to
production but does not include downstream activities (such as
refineries and facilities for transporting marketable product
beyond project boundaries) .[17]
As noted at the beginning of this Digest, Schedule
3 contains four measures:
- Part 1: the introduction of a functional
currency rule into the petroleum resource rent tax, along the lines
of the functional currency rule in section 960 70 of the ITAA
1997[18]
- Part 2: the introduction of a look-back rule
for exploration expenditure related to a production licence derived
from an exploration permit and a retention lease
- Part 3: the introduction of internal petroleum
provisions to deal with the situation where a participant in a
petroleum project sources petroleum from another participant in the
same project (known as internal petroleum ),[19] and
- Part 4: extends the offshore exploration
incentive to permit a 150 per cent upfront deduction for petroleum
exploration expenditure incurred in the 2009 annual offshore
acreage release.
It is appropriate to deal with these measures in turn.
Part 1 inserts various definitions and
provisions into the Petroleum Resource Rent Tax Assessment
Act 1987 dealing with functional currency. The provisions are
modelled on those in the ITAA 1997 but there is some variation to
take account of the petroleum resource rent tax arrangements.
Generally, functional currency rules have the potential to
simplify financial reporting because they allow a taxpayer whose
accounts are kept solely or predominantly in a foreign currency to
use the functional currency, rather than the Australian dollar, to
work out his or her taxable income.[20] Functional currency rules are the
exception to the core foreign currency translation rules, which
require foreign currency amounts to be translated into Australian
dollars and set out how the translation will occur in particular
circumstances.[21]
Item 19 inserts proposed Division
7 into Part V of the PRRTA Act. Part V deals with
liability to taxation. Proposed Division 7 deals
with functional currency and includes proposed sections 58A
58M.
Proposed section 58A sets out the objects of
proposed Division 7, including to allow a person whose accounts are
kept solely or predominantly in a particularly foreign currency to
calculate the person s taxable profits and certain other amounts by
reference to the functional currency (proposed paragraph
58A(a)). It also allows companies in a designated company
group that is in the same situation to do the same
(proposed paragraph 58A(b)).[22]
Proposed section 58B provides that a person
may elect to be bound by the functional rules, and sets
out matters such as the date when the election takes effect and how
the election is to occur.
Proposed section 58C describes the person s
applicable foreign currency as being primarily the sole or
predominant currency in which a person (or the head company of a
designated company group) kept its accounts either immediately
before the end of the year of tax or when the person made the
election under proposed section 58B.
Proposed section 58D contains the basic
translation rules, whereas proposed section 58E
sets out the translation rule that applies to assessable receipts
and proposed section 58F sets out the translation
rules that apply to deductible expenditure. Proposed
section 58G sets out the translation rule that applies to
the transfer of an entity s entire entitlement to assessable
receipts, and proposed section 58H sets out the
translation rule that applies to the transfer of only part of an
entitlement to assessable receipts.
Proposed section 58J sets out the rules that
apply to the translation of taxable profit, or excess closing-down
expenditure, into Australian dollars including the fact that any
election made under this provision must be in writing and is
irrevocable (proposed subsection 58J(2)).
The Explanatory Memorandum does not explain why the election is
irrevocable, nor does it explain the relationship (if any) between
proposed section 58J and proposed section
58L (which, as explained below, sets out how a person
withdraws his or her election) assuming the conditions for
withdrawal are met. The plain and ordinary meaning of the verb to
revoke is to withdraw , and therefore some explanation of the
distinction drawn between the two words in proposed
Division 7 may be useful.[23] If a taxpayer has made an election
under proposed section 58B to be bound by the functional currency
rules, and proposed paragraph 58D(1)(d) or (e) requires the
translation of that person s taxable profit or an amount of excess
closing-down expenditure for the purpose of working out a credit to
which the person in entitled, then the taxpayer may also
elect to use an exchange rate that is an average of all
the exchange rates during the year or tax (proposed paragraph
58J(1)(c)) or to use the exchange rate applicable on the
last day of the year of tax (proposed paragraph 58J(1)(d)). If the
taxpayer makes an election under proposed paragraph 58J(1)(c) or
(d), then the election must be in writing and is
irrevocable.[24]
However, if either proposed paragraph 58D(1)(d) or (e) applies, and
the taxpayer does not make an election under proposed paragraph
58J(1)(c) or (d), then the person is taken to have made an election
under paragraph (1)(c).
The difficulty with the proposed provisions lies in the
following series of events. If the taxpayer who makes an election
under proposed section 58J later withdraws his or her election
under proposed section 58B (according to the process set out in
proposed section 58L), then any election he or she has made under
proposed section 58J will cease to be relevant. However, what is
the position of the taxpayer who has not actively made an election
under proposed section 58J, but is simply taken to have made the
election. In such as case, there is no explicit requirement for the
purported election to be made in writing, and the legislation does
not expressly mention whether such an election is irrevocable.
Further, the difficulty remains that any withdrawal made under
proposed section 58L only has effect from immediately after the end
of the year of tax in which the person withdraws the election
.[25] The concept
of irrevocable elections is not uncommon in tax law, so as to
provide some certainty in calculating tax, but it may be useful in
the interests of simplifying tax law and making it more accessible
to ordinary people (as opposed to tax specialists) if the
legislation were to spell out some of the answers to these issues,
including what is the situation for earlier years of tax when the
election had effect?
Proposed section 58K sets out the special
translation rules that apply to events that happened before the
current election took effect. Proposed section 58L
sets out how a person who has made an election under
proposed section 58B withdraws that election
if the person s applicable functional currency has ceased to
be the sole or predominant currency in which the person keeps the
person s accounts.[26] Finally, proposed section 58M sets out
the special translation rules that apply to events that happened
before the withdrawal of an election took effect.
Item 20 states that the amendments in Part 1 of
Schedule 3 to the Bill apply for years of tax that start on or
after 1 July 2009.
The measures contained in Part 1 will have no fiscal cost over
the forward estimates period. They are expected to reduce
compliance costs.[27]
Parts 2 and 3 of Schedule 3 to the Bill deal
respectively with exploration expenditure and internal petroleum
.
Part 2 inserts a modified look-back rule into
the PRRTA Act to ensure that all exploration expenditure (including
expenditure incurred outside the retention lease area but inside an
exploration permit area) is deductible for PRRT purposes.
Currently, an exploration permit gives the holder a right
to look for petroleum in a particular area, and a retention
lease gives the holder the right to any petroleum discovery in
a particular area that is currently not commercially viable for
development but may become so in the future.[28] A production licence gives
the holder the right to produce petroleum from a particular
area.
Items 23 25 amend section 5 of the PRRTA Act to
draw a distinction between the current law (which will continue to
apply to any petroleum project where the applicable production
licence comes into force before 1 July 2008), and the new law (in
proposed subsections 5(5) (7)), which will apply
to any petroleum project where the applicable production licence
comes into force after 30 June 2008.
Under proposed paragraph 5(6)(a), if a current
production licence derived from a prior exploration permit, then
any exploration that occurred in (or any recovery of petroleum that
occurred from) the exploration permit area before the current
production licence came into force is treated as expenditure that
relates to the petroleum project for the post 30-June 2008 licence.
Similarly, under proposed paragraph 5(6)(b), if
before the current production licence came into force one or more
retention leases (or other production licences) came into force and
were derived from the prior exploration permits, then exploration
in (or recovery of petroleum from) the exploration permit area
includes all expenditure for these previous production licences
(and not just the most recent production licence).[29]
Part 2 might benefit from having its language
and concepts simplified in order that it might be more readily
understood by lay people and taxpayers to whom the provisions will
apply. For example, it might benefit from the individual provisions
being restructured as their own sections (and subsections) rather
than trying to include all the material into subsections and
paragraphs of existing provisions.
Part 3 deals with the processing of internal
petroleum. As mentioned earlier, it inserts internal petroleum
provisions into the PRRTA Act to deal with the situation where a
participant in a petroleum project processes petroleum for another
participant in the same project. They also deal with the situation
where a participant in a petroleum project sells his or her share
of petroleum (etc) to another participant in the same project.
The provisions in Part 3 of Schedule 3 to the
Bill also amend the existing provisions in that Act that apply to
external petroleum (that is, where the parties to any transaction
are participants in different projects). Specifically, Part
3 amends the following provisions of the PRRTA Act:
- section 19 (Petroleum project)
- section 24A (Assessable tolling receipts)
- section 37 (Exploration expenditure)
- section 38 (General project expenditure)
- section 41 (Effect of procuring the carrying on of operations
etc. by others).
For further explanation of the practical application of these
amendments, the reader is referred to pages 42 45 of the
Explanatory Memorandum.
Item 26 inserts a definition for the term
internal petroleum into section 2 of the PRRTA Act to make
it clear that the recovery or processing of petroleum (or its
constituents) recovered from the relevant production licence area
must be done by a person entitled to derive assessable receipts in
relation to the project for, on behalf of, another person entitled
to derive assessable receipts in relation to the same project.
Similarly, the term applies to petroleum (or its constituents) that
is to be sold by one participant in a project to another
participant in the same project.
Parts 2 and 3 will have no fiscal impact over
the forward estimates period. The measures in Part 2 are expected
to have no impact on compliance costs, whereas those in Part 3 are
expected to reduce compliance costs.[30]
Clause 2 of the Bill, and item 36 of
Schedule 3, provide that the amendments in Parts 2
and 3 of Schedule 3 will apply retrospectively from 1 July
2008. While in some circumstances the retrospective application of
law should be avoided (particularly where it interferes with people
s substantive rights), in this case two things can be said. First,
the first three measures were first announced on 8 May 2007 by
Peter Dutton MP, then Minister for Revenue and the Assistant
Treasurer in the Howard Government.[31] Second, the Rudd Government announced
on 13 May 2008 its intention that the amendments would apply from 1
July 2008.[32]
Specifically, the Rudd Government said:
The Government will implement three minor
changes to the Petroleum Resources Rent Tax (PRRT) directed at
lowering compliance costs and removing inconsistencies, with effect
from 1 July 2008.
The first change is to introduce a functional
currency rule into the PRRT, similar to the functional currency
rule for income tax. This will reduce compliance costs for PRRT
taxpayers.
The second change is to introduce a look-back
rule for exploration expenditure related to a production licence
derived from an exploration permit or a retention lease. This
change will ensure that all exploration expenditure is deductible
for PRRT purposes.
The third change is to remove an inconsistency
in the PRRT external petroleum provisions to address the
circumstance where two or more petroleum projects are not
independent of each other.[33]
The text of the Rudd Government s announcement on 13 May 2008
deals with the same three issues as the text of the Howard
Government s announcement on 8 May 2007. Further, the text of
Schedule 3, while much more detailed than either
announcement, does not deviate from the intentions of government
expressed in the two earlier announcements.
The fourth measure in Schedule 3 extends the
incentive for businesses to engage in offshore petroleum
exploration. The Assistant Treasurer and the Minister for Resources
and Energy explained in their joint media release on 12 May 2009
that the incentive reduces the cost of petroleum exploration in
Australia s remote offshore areas, stimulating exploration activity
and increasing the likelihood of discovering a new oil province
.[34] Under the
incentive, a business can claim a 150 per cent upfront deduction
for exploration expenditure in prescribed remote locations. Such
locations are known as designated frontier areas . This
term is defined in section 2 of the PRRTA Act to mean a block (or
blocks) that constitute both:
- an area or part of an area:
- specified in section 36A [as a designated frontier area for
2004]; or
- specified in an instrument made under subsection 36B(1)
[designated the area as a frontier area for 2005 to 2008]; and
- an exploration permit area.
The term exploration permit area is defined in section
2 to mean a petroleum exploration permit area within the meaning of
the Offshore Petroleum and Greenhouse Gas Storage Act 2006
.
The 2009 annual acreage release will be announced in June 2009.
The incentive has applied to the annual designation of frontier
areas since 2004 and will be assessed later this year following the
release of the final report of the Australia s Future Tax System
Review and the Energy White Paper.[35]
Part 4 contains only one item: item
37. It amends existing subsection 36B(2) of the PRRTA Act
to replace 2008 with 2009 . Section 36B currently provides that the
Minister administering the Offshore Petroleum and Greenhouse
Gas Storage Act 2006 may designate, in writing, up to (and
including) 20 per cent of potential exploration permit areas as
frontier areas for 2005 to 2008. The amendment in item
37 will allow the Minister to designate frontier areas for
2009.
The measures in Part 4 have no financial impact in 2009 10 and
2010 11, but are expected to have a small but unquantifiable fiscal
cost in 2011 12 and 2012 13 .[36]
Schedule 4 amends the ITAA 1997 to enable
taxpayers to claim income tax deductions for gifts to the Diplomacy
Training Program Limited, the Royal Institution of Australia
Incorporated (RiA) and the Leeuwin Ocean Adventure Foundation
Limited. The measure was announced by the Assistant Treasurer on 11
May 2009 and is intended to assist the three organisations in
attracting public support for their charitable activities .[37]
Item 1 amends existing subsection 30 25(2) to
include the RiA in the table of education deductible gift
recipients. The RiA is not due to open until October 2009 but will
be the first international satellite of the world-renowned Royal
Institution of Great Britain (RiGB), the flagship of science
communication in the UK for over 200 years .[38] Gifts made to RiA after 16 April 2009
will be tax deductible.
Item 2 amends existing subsection 30 80(2) to
include the Diplomacy Training Program Limited in the list of
international affairs deductible gift recipients. Founded in 1989
by Jose Ramos-Horta (who is now President of East Timor), the
Diplomacy Training Program Limited is affiliated with the
University of New South Wales and is an independent NGO which seeks
to advance human rights and empower civil society in the Asia
Pacific region through quality education and training .[39] Gifts made to the
Diplomacy Training Program after 16 April 2009 will be tax
deductible.
Item 3 amends existing section 30 105 to
include the Leeuwin Ocean Adventure Foundation Limited (the
Foundation) in the list of other recipients of deductible gifts.
Based in Fremantle in Western Australia, the Foundation s mission
is to challenge and inspire young people to realise their personal
potential and make a positive contribution to the wider community,
through the unique medium of a tall sailing ship [the Leeuwin II,
built in the three-masted, rigged style of the 1850s] .[40] The Foundation offers
adventurous voyages along the Australian coast between Esperance
and Broome, including a wide range of programmes to suit all ages
and interests, from short 3 hour sails to 12 day voyages .[41] The Foundation s
activities are designed to encourage teamwork, communication, goal
setting, problem solving and leadership .[42] In addition to its youth voyages, the
ship is also available for private and corporate hire.[43] Gifts made to the
Foundation after 16 April 2009 will be tax deductible.
Items 4 6 amend section 30 315 to include
reference to the three organisations mentioned above in the index
to Division 30 of the ITAA 1997, which deals with gifts or
contributions.
Item 7 states that the amendments made by
Schedule 4 will apply to the 2009 10 income year and later income
years.
The measures in Schedule 4 will have the
following financial impact:
|
Organisation
|
2009-10
|
2010-11
|
2011-12
|
2012-13
|
|
Royal Institution of Australia Incorporated
|
$57,500
|
$122,400
|
$124,848
|
$127,345
|
|
Diplomacy Training Program Limited
|
$33,750
|
$46,125
|
$47,278
|
$48,460
|
|
Leeuwin Ocean Adventure
Foundation Limited
|
$1,500,000
|
$1,500,000
|
$300,000
|
$307,500
|
|
Total
|
$1,591,250
|
$1,668,525
|
$472,126
|
$483,305
|
Source: Explanatory Memorandum, p. 10.
Members, Senators and Parliamentary staff can obtain further
information from the Parliamentary Library on (02) 6277
2795.
Morag Donaldson
26 May 2009
Bills Digest Service
Parliamentary Library
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