Wayne Swan (Lilley, Australian Labor Party, Treasurer) Share this | Hansard source

I am certainly looking forward to the recommendations which will come forward from the state Treasurers when it comes to their inefficient state taxes—certainly that is a process which is in place. What we have put in place is the MRRT, which I think is a very important reform, which achieves all of the objectives that the member opposite has outlined and of course is opposed by those opposite who want to give a very big tax cut to Gina Rinehart and Clive Palmer. That is one of the most fundamental reforms. But let us have a look at the $6,500 instant asset write-off—which replaces a complex set of systems, a complex set of paperwork, going right down the line—that was recommended to us by the tax review.

Mr Hockey interjecting—

Here we go again—a bit sensitive about tax, are we?

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