Josh Frydenberg (Kooyong, Liberal Party, Treasurer) Share this | Hansard source

I thank the member for Fairfax for his question, and I want to congratulate him for the excellent work that he's done on the parliamentary inquiry that's looking at franking credits. Together with the member for Goldstein, the member for Reid, the member for Mackellar, the member for Brisbane and the member for Hughes, he has given an opportunity to more than one million Australians who are going to be hit by Labor's retiree tax to be heard. Today in Parliament House there was a forum on Labor's retiree tax organised by the Alliance for a Fairer Retirement System, with representatives of National Seniors, COSBOA and others. The disgust of these people with Labor's $55 billion retiree tax—a tax that will fall hardest on the lowest income earners in our community, over 80 per cent of whom have a taxable income under $37,000 and over half of whom are women.

We know it's going to affect charities too. We know it's going to affect charities because Cancer Council Queensland said, 'Two of our major donors have advised Cancer Council Queensland that they are unlikely to be in a position to donate if this policy is introduced'—

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