Chris Bowen (Prospect, Australian Labor Party, Shadow Assistant Treasurer) Share this | Hansard source

to move:

That the House:

(1)

notes the decision by the Federal Government to end upfront tax deductions for investors in non-forestry agribusiness Managed Investment Schemes (MIS);

(2)

notes the impact of this announcement on rural investment and job losses;

(3)

condemns the Government for its lack of consultation on the proposed tax treatment of non-forestry agribusiness MIS with the agribusiness industry; and

(4)

notes the Government’s pretence that it is the ‘party of business’ while it flagrantly disregards the need for certainty in relation to investment decisions and the need to provide transitional arrangements when making changes such as this.

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