Eric Abetz (Tasmania, Liberal Party, Minister for Fisheries, Forestry and Conservation) Share this | Hansard source

It would seem that Senator O’Brien has tried to regroup after his humiliating efforts during Senate estimates. What he was told during Senate estimates needs to be repeated in this chamber because, quite clearly, I do not think he got the full picture. First of all, it was not the government’s decision in relation to the managed investment schemes. The Australian Taxation Office determined that they would not be providing product rulings for the future and gave appropriate notice of that. As a result, the government, in considering it, determined that it was—and I think the language I am about to use is correct—‘not disposed to intervene’. I understand that further discussions and considerations will be had by the government, as we as a government always do—we monitor these things; we consider these things.

In relation to the other aspect of the question, as to whether Minister McGauran sought advice, can I indicate that, like all members on this side of the chamber, we interact with members of the community and diverse interest groups on a very regular basis. So Minister McGauran availed himself of the information that comes from investors, from the managed investment scheme promoters and those that run them, from contractors and also from the family farmers and the National Farmers Federation, who hold a differing view to, let’s say, the Tasmanian farmers and the Western Australian farmers.

So, clearly, what we have here is a situation where there is a divergence of opinion within the community at large. We as a government have determined a particular course of action, and there is nothing untoward in any way about the suggestions being made by Senator O’Brien in relation to the sources from which Minister McGauran sought to inform himself. It is quite appropriate. Senator O’Brien was told the sources from which Minister McGauran informed himself, and the government’s decision is the one that has been announced.