Australian Medical Association says commonsense prevails with withdrawal of bankruptcy bill

Main Category: Public Health
Article Date: 23 Jul 2004 - 14:00 PDT

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AMA (Australian Medical Association) President, Dr Bill Glasson, said today the AMA welcomes the Government's decision to withdraw and revise the draft Bankruptcy Legislation Amendment (Anti-Avoidance and Other Measures) Bill 2004.

Dr Glasson said it is believed only two of 174 submissions to the House of Representatives Standing Committee on Legal and Constitutional Affairs supported the Bill in its draft form - and one of those submissions was from the Tax Office.

"We back the Government's efforts 100 per cent to produce legislation that snares high flyers who deliberately use bankruptcy laws to fund extravagant lifestyles and avoid paying tax," Dr Glasson said.

"But the draft legislation was fatally flawed and would have decimated hard-working law-abiding small businesses.

"It would have forced key services - GPs, pharmacists, farmers, accountants, and others - out of local communities.

"The AMA was at the forefront in gathering a coalition of the endangered to raise common concerns with the draft legislation.

"The Government has heeded those concerns about the unintended consequences of the draft Bill and will now engage in further consultation as part of the review process.

"This is a sensible move that will be welcomed by small business and professional groups," Dr Glasson said.

Australian Medical Association