Organisational assets above the value of $400,000 are to be compulsorily acquired by Indigenous Business Australia (IBA) and transferred to a new entity, the Indigenous Economic Development Trust (IEDT), and then rented back at commercial rates to the same organisations from which the asset has been taken from.
In some cases this will make those organisations commercially unviable, leading to financial collapse and loss of Aboriginal jobs. Every reason for Aboriginal organisations for acquiring property as part of engaging with capitalism has been thrown out in favour of a centrally controlled government bureaucracy.
28 Aug. 2007
Crikey has a scoop:
at 9:40:00 pm