Joe Hockey (North Sydney, Liberal Party, Shadow Treasurer) Share this | Hansard source

Service stations, as my learned colleague knows, having run a business. There would be plenty of service stations with a turnover of $20 million, even though the margins are very thin. Tourism companies would have big turnovers, even though their margins are small. If you pay $5,000 to have a tour of Australia, out of that maybe 200 bucks goes to the travel agent. All these businesses would now have to lodge monthly returns, because the government needs the money.

I have deep, deep reservations about this in particular. It is one thing for large companies, and I have reservations about monthly returns for them, but for businesses with a turnover of $20 million—fair dinkum, seriously, where do they pluck these numbers from? We are not allowed to ask, and even if we did we would not get any answers. Where did $20 million turnover come from? On what basis? Who is the genius that thought it up? Was it the Treasurer? Was it the tax office? Was it someone in the Treasury?

Who was the genius who picked $20 million for monthly returns?

Where was consultation? Did they speak to anyone in the business community? Did they speak to any chambers of commerce? Did they speak to any industry associations about the implications? The Service Station Association, or newsagents or the Pharmacy Guild—did they speak to them? Plenty of pharmacists might have a turnover of $20 million, with the PBS and prescription services. They could be two shops or three shops. But now they have to lodge monthly returns. Fair dinkum! What a chaotic government!

What we do know is that they claim this move is going to net $1.4 billion over the forward estimates. I see the member for—is it Werriwa—there?

See this speech in context