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Friday, 28 November 1986
Page: 3971


Mr REITH —Did the Treasurer earn a profit of approximately $60,000 from the sale to a Mr Paul Kenny of his interest in a Paddington shop which had been purchased jointly with Kenny in 1981 for $231,000?


Madam SPEAKER —Order! The honourable member must ask questions of the Treasurer on those matters which are within the responsibility of his portfolio.


Mr REITH —I certainly will, Madam Speaker.


Mr Howard —Well, let him finish it.


Madam SPEAKER —Order! The Leader of the Opposition is not directing the House. It is for me to direct the honourable member. I do not need help.


Mr REITH —Did this sale occur in the first six months of 1984? Was this transaction declared as a sale of property in the Treasurer's 1984 taxation return and the profit included as taxable income in the 1984 financial year? If not, why not? If the profit was included as income, how can the Treasurer claim he is a PAYE taxpayer and would expect a refund? If the profit had been declared, would not this have placed him in a high priority category for the issue of a demand and summons for the lodgment of his 1985 taxation return? Can the Treasurer explain why no demand and summons was issued for his 1985 return from the Taxation Office?


Mr KEATING —This has nothing whatever to do with my ministerial portfolio responsibilities.


Mr Tuckey —Of course it has.


Madam SPEAKER —Order! The honourable member for O'Connor will keep quiet.


Mr KEATING —Whatever appropriate inclusions will go in my tax return of course would have been there, as appropriately they should. But this is John Howard's new Liberal Party, the return from the gutter. Having come through one year of economic turmoil and not having been able to lay a glove on the Government, all we have heard from you is breach of promises, civil aircraft, RAAF flights, travelling allowance and that sort of absurd question.


Mr Tuckey —You and your breach of promise.


Madam SPEAKER —Order! I warn the honourable member for O'Connor.


Mr KEATING —This is the sort of absurd question that has been approved by the Leader of the Opposition, Honest John, from his colleague up the back.