Malcolm Turnbull (Wentworth, Liberal Party, Leader of the Opposition) Share this | Link to this | Hansard source

My question is addressed to the Prime Minister. I refer the Prime Minister to weekend media reports concerning a new tax on the family home. Can the Prime Minister confirm whether the government has made any—

Government Members:

Government members interjecting—

Malcolm Turnbull (Wentworth, Liberal Party, Leader of the Opposition) Share this | Link to this | Hansard source

I am glad the government frontbenchers are indicating their commitment to imposing a new tax—that is obvious. Can the Prime Minister confirm whether the government has made any specific request to the Henry review into taxation to examine a new tax on family homes?

Kevin Rudd (Griffith, Australian Labor Party, Prime Minister) Share this | Link to this | Hansard source

I am unaware of any such request, but I notice that the Leader of the Opposition seems to have had, historically, very close connections with the Treasury—at least parts of it. I say to the honourable gentleman that the reason that the government has embarked upon the Henry review of taxation is so we can have a comprehensive set of options for long-term taxation reform.

When the business community gathered in this building at the 2020 Summit last year in March, one of their first requirements of the newly elected government was that it was high time we had a comprehensive review of the future of the taxation system. That was their first ask. One hundred people from the business community from all sides of politics assembled in the Great Hall said, ‘What we need is a root and branch review of the system.’ That is what is underway. It is the right course of action, and we await the outcome of that report from the Secretary to the Treasury, Mr Henry.