Bill Shorten (Maribyrnong, Australian Labor Party, Leader of the Opposition) Share this | Link to this | Hansard source

My question is to the Prime Minister. Since last Thursday, the Prime Minister has failed on four separate occasions to explain what he considers to be the excesses in negative gearing. He has also failed on eight occasions to rule out retrospective changes to negative gearing. Even the former Prime Minister, his predecessor, has had to give him a hurry-up to explain matters. Prime Minister, it is beyond a farce now. When will you finally given Australians a straight answer on your tax plans?

Ms Julie Bishop interjecting—

Tony Smith (Speaker) Share this | Link to this | Hansard source

The Minister for Foreign Affairs will cease interjecting.

Malcolm Turnbull (Wentworth, Liberal Party, Prime Minister) Share this | Link to this | Hansard source

What the Leader of the Opposition is doing is running an early version of the standard run-up to the budget in which the opposition demands that the government rule in or rule out one measure or another—

Ms O'Neil interjecting—

Tony Smith (Speaker) Share this | Link to this | Hansard source

The member for Hotham is warned.

Malcolm Turnbull (Wentworth, Liberal Party, Prime Minister) Share this | Link to this | Hansard source

and demands comment on one thing or another relating to the preparation of the budget. What we are doing is working through these very important issues very carefully. We are completing a process of examination of the Australian tax system that was begun in early last year. It has been a good national conversation. There have been good contributions to it, and we are completing it with due care and diligence. Just as Treasurers and Prime Ministers answer with respect to questions about what is going to be in the budget, when we have completed our deliberations and when the government has concluded its work we will present the conclusions, just as we will do with the budget outcomes when the budget is presented by the Treasurer.

The Leader of the Opposition should consider very carefully the alternative approach, which is apparently—as he shows—to make policy on the run and to announce measures without any examination. He had his deputy acknowledging proudly that, after 1 July 2017, if she has her way, a nurse or a teacher will not be able to buy an investment property, but should be able to console themselves with buying a home—while at the same time, of course, the person with a substantial investment income will be able to buy that investment property. These are the bizarre and anomalous outcomes that are the consequence of shoddy work and poor consideration.

The government is doing its job. It is considering serious issues seriously. When we have concluded our deliberations, policy will be announced.

Mr Whiteley interjecting—

Tony Smith (Speaker) Share this | Link to this | Hansard source

The member for Braddon is now warned!