Andrew Hastie (Canning, Liberal Party) Share this | Link to this | Hansard source

My question is to the Treasurer. Alan is a retiree from Greenfields in my electorate who is proud of his financial independence. He has planned for a total yearly income of $40,000. Under Labor's retiree tax, however, he will lose $10,000 a year.

Opposition Members:

Opposition members interjecting—

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

Members on my left!

Andrew Hastie (Canning, Liberal Party) Share this | Link to this | Hansard source

Treasurer, why is it important to have a carefully designed taxation policy that incentivises savings—

Opposition members interjecting—

Mr Rob Mitchell interjecting—

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

Can the member resume his seat. Members on my left, I'm trying to hear the question. You're preventing me and you're wasting your own question time, which I would have thought is important to you. The member for McEwen is warned for whatever he said—it doesn't matter. Member for Canning, could you repeat your question again, from the beginning.

Andrew Hastie (Canning, Liberal Party) Share this | Link to this | Hansard source

Treasurer, Alan is a retiree from Greenfields in my electorate of Canning who is proud of his financial independence. He has planned for a total yearly income of $40,000—

Ms Butler interjecting—

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

The member will resume his seat. The member for Griffith will leave under 94(a). I presume she's got some other appointments to attend to.

The member for Griffith then left the chamber.

Member for Canning, I'm wanting to listen very carefully to this question.

Andrew Hastie (Canning, Liberal Party) Share this | Link to this | Hansard source

Treasurer, Alan is a retiree from Greenfields in my electorate of Canning who is proud of his financial independence. He has planned for a total yearly income of $40,000, and under Labor's retiree tax he will lose $10,000 a year. Why is it important to have a carefully designed taxation policy that incentivises people to save and remain independent in retirement? What are the risks of alternatives?

Opposition members interjecting—

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

Just before I call the Treasurer, members on my left will cease interjecting.

Mr Conroy interjecting—

If the member for Shortland could stop mindlessly interjecting. Members on my left, if they can contain themselves, may be interested in why I was trying to listen to the question closely. I suspect the Manager of Opposition Business will agree with me. The last part of that question is in order. The first part of that question is completely out of order. Questions cannot be asked about opposition policies, because ministers are not responsible for them. The Treasurer will address himself to the second part of the question. I hope members realise why I want to listen to questions.

Scott Morrison (Cook, Liberal Party, Treasurer) Share this | Link to this | Hansard source

I thank the member for his question. For constituents like Alan, it is incredibly important that we have a tax design in this system that doesn't go and steal the tax refunds of hardworking Australians.

Opposition Members:

Opposition members interjecting—

Scott Morrison (Cook, Liberal Party, Treasurer) Share this | Link to this | Hansard source

I notice the interjections of those opposite, who say he hasn't paid any tax. Alan has paid tax all of his life, you muppet. He's paid tax all of his life. Beaker over here—

Honourable members interjecting—

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

Members on both sides!

Scott Morrison (Cook, Liberal Party, Treasurer) Share this | Link to this | Hansard source

They have just shown the tell, Mr Speaker. Alan has worked hard all of his life and he has put a nest egg together and he is now a victim, like another 850,000-plus Australians, of what Labor would propose to do by abolishing commonsense, good principles of tax design. And pensioners are not immune either, as the Prime Minister has reminded us.

Ms Owens interjecting—

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

The member for Parramatta is warned.

Scott Morrison (Cook, Liberal Party, Treasurer) Share this | Link to this | Hansard source

Pensioners will be hit if they dare to want to manage their own superannuation funds and not be extorted into putting it into industry funds with Labor mates, like the Leader of the Opposition wants to demand of them. Alan should get the same tax benefit, the same tax relief, as every other Australian for the tax paid by the company he's invested in.

Ms Husar interjecting—

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

The member for Lindsay is warned.

Scott Morrison (Cook, Liberal Party, Treasurer) Share this | Link to this | Hansard source

What we have learnt again about the shadow Treasurer today is he has a capacity for stuffing up like no-one in this place.

Honourable members interjecting—

The shadow Treasurer has completely muffed this one, and we're used to it. I'm particularly used to it. In the Rudd-Gillard-Rudd government this bloke was the prince of failure amongst a royal family of failures on that side, which has no limit. We know, as the Prime Minister reminded us, about GroceryWatch, Fuelwatch and the employee share ownership schemes. They were the warm-up for the worst immigration minister we have ever seen in this country.

Honourable members interjecting—

He is the worst of all time: 25,000 turned up on illegal boats on your watch; $5 billion in budget blowouts. Do not let this shadow Treasurer do to the economy what he did to our borders.

Mike Kelly (Eden-Monaro, Australian Labor Party, Shadow Assistant Minister for Defence Industry and Support) Share this | Link to this | Hansard source

Better take your medication!

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

I heard that interjection. I'm not sure who it was from. It needs to be withdrawn immediately. Did the member for Eden-Monaro make an unparliamentary remark?

Mike Kelly (Eden-Monaro, Australian Labor Party, Shadow Assistant Minister for Defence Industry and Support) Share this | Link to this | Hansard source

I withdraw.

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

Just before I call the Deputy Leader of the Opposition—

Opposition members interjecting—

The Deputy Leader of the Opposition might want to resume her seat, because her colleagues behind her seem intent on delaying proceedings.

Mr Chester interjecting—

I'm just going to say very briefly: the Minister for Veterans' Affairs is warned. I'm not going to have people continue conversations when I'm trying to address the House. The level of interjections was again ridiculously high. I'm not going to address this point at length. There were so many loud interjections I'm giving a general warning. I am going to remove people from the House, whether they are serial offenders or not. The level of noise is ridiculously high: I can't hear the minister's answer and on occasion can't hear the questions as well. A number of people have been warned already a number of times. If they interject at all they'll be out. The Deputy Leader of the Opposition.