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

Sure. I will not be distracted. Senator Macdonald is just trying to be helpful. My understanding is, very quickly, that it is administratively simpler to do it this way in the context of rather than dealing with corporations you have a greater degree of certainty as to the amount of levy that you will collect, and there are thresholds of income between $50,000 and $100,000. Below $50,000 no levy is payable and the levy rate changes at $100,000 and above, so there are some equity considerations in relation to that. But that was not the main reason why I got up to respond.

It is also important that I put on the record the concerns that were raised in the Senate Economics Legislation Committee inquiry in relation to these bills. A number of my constituents raised issues on two aspects: one was the Stockport floods that occurred at the end of last year when a community in the mid-north of South Australia suffered as a result of floods. I am satisfied with the response from Treasury, that where there has been a declaration made under the NDRRA certain exemptions will apply.

On an issue that was raised about redundancy payments, I note that the circumstances in which redundancy payments are taxable or not taxable have been set out. Madam Chair, I think you have received some further information on this. I have received similar information from Treasury and from the government. That satisfies me.

In relation to Senator Macdonald’s concerns over whether this is something that will stick, I am reassured by a number of things. I know this may pain Senator Macdonald, but Senator Milne from the Greens is at one with Senator Macdonald when it comes to—he’s wincing!—