Tony Windsor (New England, Independent) Share this | Hansard source

My question is to the Prime Minister and relates to the ongoing debate about the taxation treatment of compensation payments to groundwater users for the loss of water entitlements in New South Wales. Is the Prime Minister aware of a taxation ruling dated 24 August 2006 concerning a similar adjustment package for the timber industry in the Brigalow bioregion, where compensation for loss of timber entitlements is going to be treated under the capital gains tax arrangements and not as income in the year of receipt, as is currently being applied to water entitlement holders? Prime Minister, will you intervene, as you did a couple of weeks ago in terms of the allocation of water entitlements, and put in place a consistent taxation policy so that those individuals being impacted by adjustment packages to achieve sustainable use of resources in Australia are not penalised unfairly by the taxation system?

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