Peter Dutton (Dickson, Liberal Party, Minister for Revenue and Assistant Treasurer) Share this | Hansard source

I move:

That the amendment be agreed to.

This amendment removes schedule 2 from the Tax Laws Amendment (2006 Measures No. 7) Bill 2006. The interest withholding tax measure has been developed in close consultation with industry stakeholders, both before and after introduction. This is consistent with government practice that we have demonstrated time and time again.

Although consultation was undertaken before the measure was introduced into this place, further issues have now been brought to the government’s attention. The government would like to more fully consider these issues before proceeding with the measure. The government considers that the other important measures in this bill should not be further delayed while we consider the issues in relation to a single measure. Therefore the government will remove the measure from the bill, undertake further consultation and re-introduce the measure at a later date.

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