Bob Baldwin (Paterson, Liberal Party, Shadow Minister for Tourism) Share this | Link to this | Hansard source

asked the Treasurer, in writing, on 10 May 2011:

In respect of recommendation 28 of the 'Henry Tax Review' (Australia's Future Tax System Review Panel, Australia's Future Tax System: Report to the Treasurer, December 2009), that statutory effective life caps and other concessional write-offs be reviewed, has the Government accepted this recommendation; if not, why not; if so, (a) on what date did the review (i) commence, and (ii) conclude, (b) what statutory cap for the effective life of aircraft did the review advise, and (c) has the Government accepted this advice.

Wayne Swan (Lilley, Australian Labor Party, Treasurer) Share this | Link to this | Hansard source

The answer to the honourable member's question is as follows:

The Government has responded to the AFTS report on 2 May 2010 and in a number of subsequent policy announcements. The Government acted on some of the AFTS review recommendations and ruled out some recommendations that were inconsistent with our policy priorities.

The AFTS report observes that "it is neither possible nor desirable to make all of these changes too quickly." A number of the recommendations in the AFTS report require further community debate, which is why the Government will hold a public tax forum in October to continue the national conversation on tax reform that we started with the release of the report.