The Sydney Morning Herald from Sydney, New South Wales, Australia • 2

2 THE SYDNEY MORNING HERALD SATURDAY FEBRUARY 15 1997 1 II 1 1 fifeji jitft Si I l1 Tax move will hurt project investment Peace talks over legal aid threats The Federal Attorney-General Mr Williams has begun negotiations to end the legal aid funding crisis buckling to the ACT Government's threat yesterday to walk out of the national legal aid network In a change of tactics Mr Williams abandoned his tough stance against a review of the $120 million legal aid cuts telling the ACT Attorney-General Mr Gary Humphries that he would take personal charge of urgent peace talks on Monday The ACT had set a deadline of yesterday for Mr illiams to review his decision to cut $900000 out of the territory's legal aid budget The other States now expect that Mr Williams will seek a compromise shortly as both NSW and South Australia have told the Government they will walk out on the national legal aid network if it has not begun negotiations by the end of the month JODIE BROUGH Tensions NT Chief Minister Shane Stone left and chairman of the Northern Land Council Mr Galarrwuy Yunupingu 'Whingeing black' gibe over Wik NEWS IN BRIEF Net status quo Internet firms claimed victory yesterday as the Minister for Communications Senator Alston said Net users would remain entitled to untimed local calls despite Telstra's concerns that Internet users would cause congestion on its network Oyster scare Oysters from Wallis Lake on the NSW mid-north coast could be responsible for an outbreak of hepatitis A the NSW Health Department warned yesterday NSW Health infectious diseases expert Dr Jeremy McAnulty said people should not eat oysters from the Wallis Lake area because 150 hepatitis A cases had been recorded in three weeks Howard to NZ The Prime Minister is due in New Zealand today for his first trip there since taking office Mr Howard will hold low-key talks with the NZ Prime Minister Mr Bolger starting in Rotorua and moving to Wellington tomorrow Rape conspiracy The wife and the former lover of a Perth man dubbed "the 30-sec-ond rapist" were remanded in custody yesterday for conspiring to frame him for rape 10 years ago The wife Katrina Carter 38 and Christine Watson 36 pleaded guilty in the West Australian District Court to charges of conspiring to pervert the course of justice before Kevin Ibbs was charged with rape in 1986 New anthrax cases Anthrax was detected yesterday at another two farms in the Stanhope and Tatura region of northern Victoria but authorities were confident the disease had been contained Infected stock has been found on 40 farms Pilbara potential A $15 billion petrochemical plant that would create 1000 jobs was likely to be built near Karratha in the Pilbara region in four years' time Western Australia's Minister for Resources Mr Colin Barnett said yesterday He said two German companies were vying to develop the project By PAUL CLEARY Economics Correspondent The concessional tax scheme for infrastructure projects was shut yesterday after the Treasurer Mr Costello said it had been transformed into a $4 billion tax loophole despite claims it had already been closed Mr Costello said the Federal Government would introduce legislation from midday yesterday to close the scheme and prevent existing projects increasing tax benefits by "re-engineering" their structure The decision does not affect projects that have already gained approval from the Government including the Eastern Distributor although it is a big blow to future infrastructure investment Mr Costello said the scheme had been abused by financial institutions and if left unchecked would pose a major threat to revenue The Government had approved the tax concession for projects worth $66 billion between 1994 and June 30 last year yet from July 1 to August 20 Budget day it had received applications worth S216 billion While some industry experts said this was merely a rush triggered by fears the scheme would be terminated in the Budget Mr Costello said these applications alone would have cost billion in lost revenue Macquarie Bank was one institution that had promoted the scheme but its executive director Mr Nicholas Moore said abuse had been eliminated last November by the body responsible for its management the Development Management Authority He said the Government had stopped approving projects where there was no symmetry between the borrower and lenders Asymmetrical proposals where a borrower gets a tax deduction and a lender gets tax-free income were no longer being approved The Government's decision meant infrastructure projects were again at a tax disadvantage Mr Costello said he recognised the importance of promoting private infrastructure investment and the Government would consider alternative arrangements for the Budget Under the scheme introduced by former prime minister Mr Paul Keating interest paid on the bonds is tax exempt in the hands of the lender and non-tax deductible for the borrower The concept was aimed at passing on this tax-exempt status to developers in lower interest rates But Mr Costello said financial institutions had developed tax "schemes" aimed at giving high-income earners massive tax deductions He pointed out the "extreme multiples" of the amount invested and the tax deductions available to individuals on six-figure salaries An individual on 5136000 would gain a tax deduction of $86000 for a contribution of $36000 while incomes of more than $450000 would get a deducuon of $416000 for a contribution of $177000 A State Government spokesman said last night private construction of the Eastern Distributor would not be affected because both prospective developers Leightons and Baulder-stone Hornibrook had obtained Federal Government approval for infrastructure bonds By MICHAEL MILLETT Political Correspondent and MP Tensions between conservative State premiers and Aboriginal leaders over the Wik issue erupted yesterday with the Northern Territory Chief Minister Mr Stone referring to one critic as "just another whingeing black" The swipe at the chairman of the Northern Land Council Mr Galarrwuy Yunupingu followed Mr Yunupingu's criticisms of the conservative governments' stance on Wik and suggestions his council was preparing to lobby European countries over Australia's treatment of Aborigines Speaking on ABC Radio Mr Stone said Aboriginal threats to boycott the 2000 Sydney Olympics and to campaign overseas were made by "whingeing whining carping critics" like Mr Yunupingu "It wouldn't matter what you did it wouldn't matter how much you spent how much land you gave he said Mr Yunupingu was later quoted by Australian Associated Press as saying Mr Stone was "nothing but a paternalistic redneck no good for nothing" The spat came as the Prime Minister Mr Howard chaired a meeting at the Lodge with Aboriginal leaders and representatives from the mining and pastoral industries in the hope of finding some common ground on Wik As expected the three-hour meeting did not resolve the matter with Mr Howard saying later it "reinforced the complexity of the issue" There was one development with the Government agreeing to delay a package of amendments to the Native Title Act while it worked on a legislative solution to Wik Talks will continue between Aborigines and other groups It is the first time the various so-called stakeholders in Wik have met formally over the issue sparked by the High Court's pre-Christmas ruling that native title and pastoral leases can co-exist The decision is at direct odds with one of the main principles underpinning the Native Title Act that the granting of a pastoral lease automatically extinguishes native title State Governments concerned about the uncertainty now surrounding land management have been pressing Canberra for a swift legislative response 'Dolly' Dunn associate on sex charges An associate of the former schoolteacher and alleged pedophile Robert "Dolly" Dunn has been charged with 13 child sex offences Michael John Hill 52 was taken to Wagga police station yesterday morning where he was charged His arrest follows a raid on one of Dunn's properties in Victoria last April in which police seized 223 home videos allegedly depicting sex acts with under-age children Police have charged Hill with 13 counts of being a principal in the second degree to sexual intercourse with a child between the ages of 10 and 16 He was refused bail and will appear in Wagga Local Court on February 24 NICK PAPADOPOLLOS Harbour pollution clean-up plan 'ignored' Kiernan yesterday called for the Sydney Water Corporation to accept private competition The latest plan has emerged following this week's revelations of a $400 million Sydney Water proposal to slash sewage overflows and a rival $1 billion private scheme to close three ocean outfalls and recycle treated effluent The new plan's creators say it went dead after being sent to the Treasurer and Minister for State and Regional Development Mr Egan five months ago Mr Egan's office said it was presented to the Department of State and Regional Development but the Treasurer had no memory of seeing it MURRAY HOGARTH PAGE 37: Brown bav blues Another plan to clean up Sydney Harbour pollution before the Olympics was ignored by the State Government because it "wasn't ready" to tackle the sewage and stormwater crisis it was claimed yesterday Clean Up Australia the Federal Government-backed Environment Industry Development Network and the Olympic Busi ness Roundtable's skills and technology showcasing task-force made sewer overflows the first target of their proposal The plan advocated harnessing the private sector and testing overflow prevention storage and treatment systems at six major sewer overflow points One of its architects the Clean Up Australia chairman Mr Ian Financial Group Group IT Dynamic Business Developer Controller Director Highly acquisitive profitable listed company Financial reporting strategic planning focus Salary package circa $130000 Witn an outstanding track record of profitability and acquisitive and organic growth this dynamic public Australian company is aggressively tackling new and diverse markets To capitalise on this enviable position the group is focused upon effective analysis of business unit operations value added financial information and targeted evaluation of business development opportunities worldwide The opportunity has now arisen for a finance professional to join the business in a newly created role reporting directly to the Finance Director Responsibilities will encompass the enhancement of group financial control and accounting practices and the continued development of management information systems You will analyse business performance providing financial and commercial support to group companies This role will drive the group strategic planning process encompassing budgets and forecasts and include involvement in acquisitions and a wide variety of ad hoc projects You will work closely with all business units making a significant contribution to the group's continued success To succeed in this role you will present a combination of leading edge technical skills a high level of commercial awareness and a hands on approach You will have operated successfully in a proactive financial capacity ideally with exposure to the complexities of operating in Asian and other international markets Necessary personal attributes will include superior people and communication skills a confident and outgoing personality and a strong desire to succeed in a demanding fast growing business The ability to work as an integral part of an outstanding management team is essential FINANCE Strategic role with international responsibility World class distribution business Salary package circa $175K Very few organisations anywhere in the world have achieved this company's level of success in recent years They are a high profile and very successful distribution business currently undergoing an exciting period of growth and change They are in the process of a complete IT infrastructure upgrade that will ultimately transform the organisation to become an internationally competitive force Technology has been identified as the key factor in their success to date and is expected to make an even greater contribution in the coming years We seek a candidate with a tremendous visionary capability Someone who really understands what technology can do not only to support the existing business but also to enable it to move to a new level A blend of strategic capability and tactical ability is essential so as to ensure that today's needs and the future needs of the business are catered for A strong business focus is essential as is the ability to work with the senior management team Managing a sizeable IT Group you will be required to deliver solutions in a very demanding and highly competitive business environment People management and leadership skills of the highest order are vital The ability to direct multiple complex projects is also crucial as the organisation moves to new platforms and systems Furthermore you will need to demonstrate exceptional resource management skills coupled with the ability to drive and initiate change in a fast paced and very dynamic environment There are few IT Director roles which would provide the scope of this position You must be capable of doing the job as it stands today as well as growing at a similar speed to the organisation In return you will receive unparalleled career opportunity in a rapidly expanding market driven organisation An outstanding remuneration package will be offered to the right INFORMATION candidate TECHNOLOGY -J For further information in strict confidence please telephone Kevin Charman or I 1 I Cecilia Wearne in our City office on (02) 9256 0333 If you prefer forward a brief XX resume quoting Ref No M851371 SPECIALISTS NSW state management responsibilities Consulting market leader in risk management and environmental management systems Progressive autonomous management structure Our client is a highly regarded well established provider of professional consulting services to a broad range of commercial and industrial clients They are committed to increasing their NSW market share by leveraging from the continued success of their Melbourne office Reporting to a Melbourne based Managing Director the key drivers of this role will be: Consolidation of the existing NSW client base Expansion and development of new clients Effective and profitable management of the NSW office Development of the internal consulting team To meet the challenges of this proactive position your key skill will be a proven track record in the successful development of business both financially and culturally You should have previous experience in one or more of the company's consulting services either from a line management or consulting background A negotiable salary package will be provided to attract the highest operations calibre candidates technical For further information in strict confidence please telephone TFj Roger Catchpole in our Parramatta office on (02) 9635 1211 If you prefer forward a brief resume quoting Ref No V209975 SPECIALISTS XXX For further information in strict confidence please telephone Anthony Lewis in our City office on (02) 9256 0333 If you prefer forward a brief resume quoting Ref No AWK1243 SPECIALISTS Investment Property Investment Introductory Internet Executive Accountant Evening General Managers Chief Executives Global life insurance funds management group Career development opportunities Operating in a highly competitive market this dynamic international group offers attractive and realistic career prospects Recent product innovation and strong predicted growth will ensure their continued success An ideal entry point into the Funds Management industry the Investment-Division is a highly charged team environment Reporting to the Investment Accounting Manager you will be responsible for: Accounting for investments daily fund valuations and pricing Performance Analysis and Client Reporting Process improvement systems development and maintenance Staff supervision and training To succeed in this challenging role you will be ACACPAACCA qualified with strong technical accounting skills ideally gained in a chartered environment You will be an energetic and proactive individual possessing excellent communication skills a hands on approach and a high level of computer literacy This role offers excellent career prospects and the opportunity to take an active Finance Directors and Senior Corporate Executives With the onset of the digital revolution and the imminent arrival of an on-line economy the Internet and the Intranet are two subjects that senior corporate executives can no longer afford to not be well versed in Morgan Banks Australia's leading Human Resource organisation and Com Tech Australia's leading Information Education Services organisation will be jointly conducting twelve introductory Internet seminars commencing on 24 February 1997 These seminars will be aimed at senior corporate executives with a view to providing the tools background knowledge and essential skills to become a productive user of the Internet The seminar will contain an introduction to Internet concepts and terminology a walk-through of various browser softwares and an extended session where you will surf the net and visit some of the hot sites around the world With this knowledge in your grasp not only will the World Wide Web be yours to surf but you will also understand some of the broader implications and possibilities for your organisation Blue chip organisation with substantial domestic and international interests Property investment and divestment responsibilities Genuine career path This is an exceptional opportunity to join one of Australia's high profile leading property organisations The initial role exists within a specialist division focussed on the acquisition and disposal of major property assets There are excellent prospects for diverse career growth in the medium term Initially you will work closely with a small professional team performing challenging and diverse responsibilities covering all aspects of major property investment transactions from identifying suitable opportunities performing analysis and feasibility studies to concluding negotiations Ideaily you are presently working with an investment bank funds manager or in the investment area of a property organisation and can demonstrate a track record of achievement in a similar role with a solid understanding of property investment decision making processes Top level analytical and property research skills are essential together with excellent communication abilities and a team approach Tertiary qualifications are essential and may include a degree in commerce land economics or chartered surveying Our client offers a very attractive salary package As indicated above career prospects are excellent and extend beyond the initial role based on your performance and ability to grow and develop PROPERTY For further information in strict confidence please telephone Anne Hatton in our City office on (02) 9256 0333 or alternatively Di Cassen on 0414 243 326 xV If you prefer forward a brief resume quoting Ref No B41135S SPECIALISTS There are a limited number of positions on these free role in the development of a dynamic business operation cominarc mill ho rnmrnDnrinff lator thic mnnth onH mill INFORMATION FINANCE 6 uo uu cuu technology be run outside of core working hours as a three hour session For further information please contact either Cathy Willis or Sarah McCloy at Morgan and Banks on (02) 9256 0333 specialists For further information in strict confidence please telephone Jane Ellis in our City office on (02) 9256 0333 If you prefer forward a brief resume quoting Ref No AX79166 SPECIALISTS CREATING I SUCCESS WITH PEOPLE KB I jJSP (2J sCS Executive Selection Search Psychological Assessment Management Consulting Management Contracting Human Resources Consulting Career Transition Management Outplacement Services Training Development Services Strategic Remuneration Consulting SydneyPanramatta applications to: P0 Box N682 Grosvenor Place NSW 2000 or Fax: (02) 9251 3975 Sydney: Level ljj Grosvenor Place 225 George St Sydney NSW 2000 Parramatta: Level 3 88 Phillip St Parramatta NSW 2150 Web: wwwmorganbankscomau Email: infomorganbanksc Member NAPC I- Lie No 688.