Senate debates
Monday, 30 November 2009
Carbon Pollution Reduction Scheme Bill 2009 [No. 2]; Carbon Pollution Reduction Scheme (Consequential Amendments) Bill 2009 [No. 2]; Australian Climate Change Regulatory Authority Bill 2009 [No. 2]; Carbon Pollution Reduction Scheme (Charges — Customs) Bill 2009 [No. 2]; Carbon Pollution Reduction Scheme (Charges — Excise) Bill 2009 [No. 2]; Carbon Pollution Reduction Scheme (Charges — General) Bill 2009 [No. 2]; Carbon Pollution Reduction Scheme (CPRS Fuel Credits) Bill 2009 [No. 2]; Carbon Pollution Reduction Scheme (CPRS Fuel Credits) (Consequential Amendments) Bill 2009 [No. 2]; Excise Tariff Amendment (Carbon Pollution Reduction Scheme) Bill 2009 [No. 2]; Customs Tariff Amendment (Carbon Pollution Reduction Scheme) Bill 2009 [No. 2]; Carbon Pollution Reduction Scheme Amendment (Household Assistance) Bill 2009 [No. 2]
In Committee
8:04 pm
Christine Milne (Tasmania, Australian Greens) Share this | Hansard source
I move Australian Greens amendment (2) on sheet 5862:
(2) Schedule 1, page 5 (after line 11), after item 5, insert:
5A Section 9 (after paragraph (ma) of the definition of managed investment scheme)
Insert:
(mb) a scheme that relates to forestry operations of any kind;
This amendment relates to the exclusion of forestry operations from managed investment schemes. This has had a long gestation in this parliament. I do not intend to speak to it at length, except to say that the Australian Greens do not believe that the government ought to be proceeding with forestry operations as part of managed investment schemes. That has been a living disaster. Its oversight has been completely inadequate. We are now seeing the mess that has been created by providing a 100 per cent tax deduction up front for these forestry managed investment schemes. You only have to see the wash-up of the collapse of Great Southern and the other schemes to see how badly served we have been by this mechanism and how badly served rural Australia has been by this mechanism. So we are moving to exclude forestry operations from managed investment schemes. That is the effect of this amendment.
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