Anne Urquhart (Tasmania, Australian Labor Party) Share this | Link to this | Hansard source

At the request of Senator Wong, I move:

That the Senate—

(a) notes that:

  (i) the Australian Labor Party's proposed reforms to cash refunds for excess dividend imputation credits have been welcomed by groups as diverse as Industry Super Australia, private funds managers, the ACTU and former Liberal leader Professor John Hewson,

  (ii) the reforms have been welcomed by the Australian Greens Finance spokesperson, Senator Hanson-Young, who stated that "I think actually Labor has done some good work here...the reality is this is just one area within the tax system that needs cleaning up if we're to have more justice and fairness in the system",

  (iii) the Leader of the Australian Greens, Senator Di Natale, contradicted Senator Hanson-Young, stating "the Greens do have concerns" with Labor's proposed reforms, and committed to "use our numbers in the Senate to fix it", and

  (iv) in an article, Greens in 11th-hour bid for conservative vote in Batman, Senator Di Natale is quoted as saying "Those people who might be inclined to vote for one of the conservative parties here [or] might be inclined to stay at home, well here's your chance to say what you think about Bill Shorten's attack on so many people in this community"; and

(b) calls on all parties, especially those who say they are committed to progressive taxation, to support Labor's proposed reforms to cash refunds for excess dividend imputation credits.

James McGrath (Queensland, Liberal National Party, Assistant Minister to the Prime Minister) Share this | Link to this | Hansard source

I seek leave to make a short statement.

Scott Ryan (President) Share this | Link to this | Hansard source

Leave is granted for one minute.

James McGrath (Queensland, Liberal National Party, Assistant Minister to the Prime Minister) Share this | Link to this | Hansard source

The coalition government does not support Labor's retiree tax, which will take money out of the pockets of one million Australians, including 230,000 pensioners. Labor's policy will overwhelmingly hit low- and middle-income earners, with 86 per cent of the individuals impacted on taxable incomes of less than $37,000. The coalition government notes the importance of the franking credit in the Australian taxation system. Franking credits represent taxes that have already been paid on behalf of shareholders.

Anthony Chisholm (Queensland, Australian Labor Party) Share this | Link to this | Hansard source

I seek leave to make a short statement.

Scott Ryan (President) Share this | Link to this | Hansard source

Leave is granted for one minute.

Anthony Chisholm (Queensland, Australian Labor Party) Share this | Link to this | Hansard source

Here we see the Liberal-Green alliance in action. We're just about to see it here. Federal Labor are absolutely committed to progressive taxation reform, including reform to dividend imputation, but it's disappointing that the Greens have taken two positions on this. After Labor's announcement, the Greens shadow spokesperson for finance, Sarah Hanson-Young, was out of the blocks early backing Labor's policy in; yet a couple of days later, hours before a certain by-election, we heard from the Leader of the Australian Greens, Senator Di Natale, who said the Greens do have concerns about this policy. Hours before the by-election—so desperate were they to rescue their failing campaign—that was what they resorted to: selling out their principles and selling out their shadow spokesperson. That was what we saw from Senator Di Natale hours before polling day. This mob aren't a patch on the Bob Brown Greens from a decade ago. They are selling out their principles and they were sold short in Batman.

Richard Di Natale (Victoria, Australian Greens) Share this | Link to this | Hansard source

I seek leave to make a short statement.

Scott Ryan (President) Share this | Link to this | Hansard source

Leave is granted for one minute.

Richard Di Natale (Victoria, Australian Greens) Share this | Link to this | Hansard source

The Greens are very proud to have been leading a whole range of inequality-busting measures, such as negative gearing, capital gains tax reform, the bank levy and taxing family trusts, and we are very pleased that the Labor Party has adopted another Greens' idea—to reform franking credits. But we're being asked to support a Labor proposal. Which one is it? Is it the one from 13 March, announced by Bill Shorten? Is it the one in TheAustralian Financial Review where they said there would be 250,000 people exempt?

Scott Ryan (President) Share this | Link to this | Hansard source

Senator Di Natale, you know that props have no place, even in one-minute statements.

Richard Di Natale (Victoria, Australian Greens) Share this | Link to this | Hansard source

Is it the one from 16 March? We just don't know. If you are asking us to support a policy, tell us which one it is. Our position is clear: we support reforms to franking credits. That is why we'll support this motion.

Opposition senators interjecting—

We'll do our job in the Senate. When you finally decide what your policy is, we'll make sure that, if it hurts struggling pensioners, we'll protect them.

Senator Watt interjecting—

Scott Ryan (President) Share this | Link to this | Hansard source

Order! Senator Watt, you've been cut a lot of slack this afternoon.

Opposition senators interjecting—

The question is that motion No. 741 be agreed to.