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Thursday, 10 May 2018
Page: 3703

Taxation


Mr BOWEN (McMahon) (14:10): My question is to the Treasurer. Given the Treasurer has now had 24 hours to confirm the answer, I ask: what is the total cost of the corporate tax cuts over 10 years from 1 July this year, both legislated and proposed to be legislated by the government?


Mr MORRISON (CookTreasurer) (14:10): I thank the member for his question. The answer is as I gave it yesterday. The cost of the unlegislated tax plan that the member refers to is $35.6 billion over the period from 2016-17 to 2027-28. That is 10 years, from 1 July 2018 to 2027-28.

Mr Burke interjecting

Mr MORRISON: You can count them up. You have 10 fingers. Off you go. What the Labor Party wants to know is the cost of increasing tax on small business. We don't have a policy to increase tax on small and medium-sized businesses up to $50 million. I don't have such a policy. The Prime Minister doesn't have a policy. The only people who have a policy to increase taxes on small and medium businesses is the Labor Party. If that's their policy, they should tell Australians what it costs, because we don't have such a policy. It is their policy to increase taxes on small and medium-sized businesses. The shadow Treasurer should be talking to the 3.3 million businesses out there that have a turnover of less than $50 million, and he should ask the 7.2 million Australians who work for those businesses why he should put up the taxes on those businesses. That's your policy. You cost it. Do your own work. We're getting on with the job of putting more than a thousand people in work every single day under the policies of this government. It's up to them to do their own work.

But we know that no-one can trust whatever rolled-gold promises the Leader of the Opposition makes to the Australian people tonight. Even those on his own side of politics can't trust the rolled-gold promises of the Leader of the Opposition. The workers he used to represent couldn't trust the rolled-gold promises of the Leader of the Opposition when he used to bargain away their penalty rates. The Leader of the Opposition is as shifty as.

The SPEAKER: The Leader of the Opposition on a point of order.

Mr Shorten: The Treasurer makes a mockery of doing personal explanations. We've dealt with that matter. He knows better.