STAMP DUTY

In reply to the Hon. I.F. EVANS (Davenport) (26 June 2013).

The Hon. J.W. WEATHERILL (Cheltenham—Premier, Treasurer, Minister for State Development, Minister for the Public Sector, Minister for the Arts): I have been advised of the following:

There were 23 ex gratia payments made in 2011-12 in relation to corporate reconstructions. Given the nature of these transactions, the volume and value of corporate reconstructions can vary significantly between years.

Department of Treasury and Finance does not estimate the number of eligible corporate reconstructions that are expected to occur in each year of the forward estimates but does provision for the value of total corporate reconstructions relief expected to be provided.

A provision of $8.5 million per annum has been made for revenue forgone as a result of the stamp duty exemption for eligible corporate reconstructions.

The majority of this (around 95 per cent) was already factored into the budget as part of the previous corporate reconstruction ex gratia relief administrative scheme that was provided by the government.