PRIME MINISTER
STATEMENT BY THE PRIME MINISTER, THE RT. HON.
WILLIA McMKAHON, CH, MP. IN THE HOUSE OF
REPRESENTATIVES, CANBERRA
FXPORT INCENTIVES
14 SEPTEMBER, 1972
The Governmient has decided in principle to extend export
incentives beyond 30 juflC, 1973 the date on which legislation
providing for these incentives expires.
The existing incentive scheme has been under review and
details of the new scheme wil1l be announced as soon as practicable.
It is the intent of the Government that tho benefits under the
new scheme will be comparable in nature and scope to those under
the existing scheme.
The Government is aware of the need for an early and
positive statement of its intentions when the current scheme
expires. Otherwise, doubts and uncertainties could arise in the
business community, with dctrimental effect on forward planning
and export sales together with doubts on investment decisions.
The export incentive scheme was introduced in 1961.
The operation of the scheme has coincidcd with a period of
sustained export grow;~ th from $ 2,150 million in 1961/ 62 to
$ 4,900 million in 1971/ 72. There are income tax rebates for
oxpenditure made on export promotion and payroll tax rebates or
incentive grants linked to e-xport growth.