Labor has revealed that they have a ‘three-minds’ position on up-front tax deductions on Agribusiness Managed Investment Schemes (MIS) – ‘yes’, ‘no’ and ‘don’t know’.
When interviewed on Tasmanian radio today, Shadow Treasurer Wayne Swan, could not coherently outline where Labor stands on Agribusiness MIS:
JOURNALIST
What is your general thinking though, should there be concessions for all forms of Agriculture through Managed Investment Schemes or just for Forestry or for none of them?
SWAN
Well I think if there is going to be a level playing field, it should be for all, but if they are being abused, then I am not going to be part of any Scheme which is being abused by people, so I am happy to listen to what they have got to say.
BUT
Labor’s Primary Industries spokesman Senator Kerry O’Brien and the Shadow Assistant Treasurer have been holding out hope to Agribusiness MIS operators, calling for a full Senate inquiry into Agribusiness MIS.
They have been leading industry representatives to believe that Labor would restore the status quo.
BUT
In Parliamentary Question Time on the 28th of February the Shadow Assistant Treasurer revealed all Labor’s blustering over this issue as a complete facade:
“Yesterday in the other place, Senator Heffernan said in the House that I had given a commitment on behalf of the Labor Party to restore tax deductibility on Non-Forestry MIS…I have not made any statement vaguely approaching what Senator Heffernan has suggested.”
This is a reflection of the new Labor style under an inexperienced Leader of the Opposition - take a bet each way without making a single policy decision, in the hope of grabbing a few votes.