Bob Brown (Tasmania, Australian Greens) Share this | Hansard source

The Greens support the Tax Laws Amendment (2008 Measures No. 4) Bill 2008, but, as we have heard, it is complex, and I thank the previous speakers for their contributions. I should say at the outset that Senator Hanson-Young, Senator Milne and I are members of private health funds which may or may not be affected by this legislation. The process of demutualisation that Senator Fielding just spoke about is one of concern, although I am not sure that this legislation will accelerate that process. It is a process that is underway without this law being brought before the parliament.

On the family trust issue, there is a cogent argument for lineal descent to be extended. But, on balance, the Greens are concerned about the use of trusts for tax avoidance, because, where taxes are avoided, the burden goes onto other people who are paying those taxes. It is a $20 million saving over forward estimates, although, as Senator Bushby said, when you get into it, it is very difficult to substantiate the amounts in either direction. However, the government did flag these changes in its presentation to the electorate in the run-up to the last election and, as part of that, has a legitimate reason to bring the legislation before the Senate, albeit reduced in the scope which the government advocated when it was in its role as opposition. The Greens opposed the measures of the previous government which are now being reversed by this legislation, so, consistent with that, we will be supporting this legislation.