Dean Smith (WA, Liberal Party, Shadow Assistant Minister for Competition, Charities and Treasury) Share this | Hansard source

In answer to questions on notice, Treasury has made a number of claims about this particular bill. Senate question on notice 1695 asked Treasury whether it acknowledged that the changes to franking credits in the last budget were a tax increase. The Treasury response to that was, 'No, the off-market share buyback measure is designed to improve the integrity of the dividend imputation system and is not a tax increase.' I'm happy to table that response if necessary, but I don't think that really will be necessary. Does the government maintain that the measures contained in schedules 4 and 5 are not a tax increase on Australian companies, investors and retirees?