Mr LATHAM —My question is addressed to the Minister for Finance. Following the information provided to the Senate by the Assistant Treasurer concerning the Finance Minister's unpaid loan from Lochreagh P/L, I ask: why did the minister fail to declare this outstanding loan in his pecuniary interest return both to the parliament and to the Prime Minister? Further, if for well over four years the minister made no attempt to repay the loan, shouldn't this money have been declared as income under section 108 of the tax act? How does the minister explain to the ordinary battling taxpayer how he received a substantial amount of money without paying it back or paying tax on it?

Mr FAHEY —When it comes to questions Nos 9 and 10 or so from the opposition, Mr Speaker, you know the opposition will run back to shares every single day. So devoid of issues are they, so much difficulty and trouble are they in, that they have to come back to the distractions because they have absolutely nothing else to contribute to the debate in this parliament.

I can indicate that the assumption the member makes about a substantial amount of money is, I assure you, not right. The only interest that particular company has is in a house property. It is a fibro cottage. It is occupied by my parents, who are both in their 80s, and it is paid for by myself and my sister each single month. The company has no revenue, and I am advised by my accountant that there is no tax implication.

Government members —Shame! Shame!

Mr SPEAKER —Members on my right! Order! Resume your seats!

Mr LATHAM —Mr Speaker, my supplementary question is this: why then did Senator Kemp earlier this week in the Senate say there had been a loan to the directors which is unpaid? How much was the loan for? Will you repay the loan or pay tax on it?

Mr SPEAKER —Order! The question is in order.

Mr Latham interjecting—

Mr SPEAKER —Order! You have asked your question.

Mr FAHEY —The Assistant Treasurer did indicate to the Senate that there was a loan to myself and my wife and that it is being repaid in a normal manner.