House debates Questions without Notice
Superannuation: Taxation
Paul Fletcher Bradfield, Liberal Party, Shadow Minister for Government Services and the Digital Economy
2:59 pm
My question is to the Assistant Treasurer and concerns the government's new super tax. Can the minister explain to the House whether the capital gains tax discount, ordinarily applicable for assets held within superannuation, is available for either realised or unrealised gains under the government's new super tax?
Stephen Jones Whitlam, Australian Labor Party, Assistant Treasurer
I thank the Manager of Opposition Business for the question. As all honourable members, and particularly the member for Forde, would know, as a non-licensed financial advisor, I can't give financial advice either here or anywhere else. But I do welcome the opportunity—
Unidentified interjection - Hansard doesn't record who said this
Opposition Members:
Opposition members interjecting—
Milton Dick Speaker
Order! Members on my left will cease interjecting. I want to hear from the Leader of the Opposition.
Peter Dutton Dickson, Liberal Party, Leader of the Opposition
I have been here 22 years and I thought I had heard it all!
Milton Dick Speaker
Resume your seat. That is not a point of order. We just had that conversation from the member for Fairfax. It is highly disorderly, and the Leader of the Opposition knows it. We cannot have question time in that way. That is the last time the standing orders will be abused. I give the call to the Assistant Treasurer.
Stephen Jones Whitlam, Australian Labor Party, Assistant Treasurer
Thank you. As I was saying, I was being invited to give financial advice. But what I can say, in general, is that the capital gains discount is available when there's a capital gains tax event.