Senate debates

Monday, 21 March 2011

Tax Laws Amendment (Temporary Flood and Cyclone Reconstruction Levy) Bill 2011; Income Tax Rates Amendment (Temporary Flood and Cyclone Reconstruction Levy) Bill 2011

In Committee

9:01 pm

Photo of Nick XenophonNick Xenophon (SA, Independent) Share this | Hansard source

Going to the first issue, I will not respond directly to some of the remarks made by Senator Macdonald. I am satisfied that the agreement that has been reached is one of good faith. I am satisfied that the Attorney-General of the Commonwealth will implement the terms of this agreement, as the minister responsible for that. I am satisfied that it is something that will have bipartisan support because it actually protects taxpayers’ funds in a way that is quite reasonable and robust and because there are transparency mechanisms in it.

I am also satisfied that the government knows and I know that, if the government tears this up in the next six months, which I do not anticipate occurring in any circumstance, the government knows that would be a gross breach of faith. I do not expect that to happen.

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