Angus Taylor (Hume, Liberal Party, Leader of the Opposition) Share this | Link to this | Hansard source

Prime Minister, which small businesses will be carved out from your capital gains tax increases?

Anthony Albanese (Grayndler, Australian Labor Party, Prime Minister) Share this | Link to this | Hansard source

As I've said before to the Leader of the Opposition's questions, what we're doing is actually decreasing taxes for small businesses through our $3½ billion of measures. That is what we are doing, which is why it's received such substantial support from so many industry sectors, including the Housing Industry Association, the Motor Trades Association, the National Farmers' Federation, the Business Council of Australia, the Australian Chamber of Commerce and Industry, and Business NSW as well as, of course, the Council of Small Business Organisations.

What we are doing through this $3½ billion of tax decreases for small businesses is providing them with incentives moving forward.

Milton Dick (Speaker) Share this | Link to this | Hansard source

The Manager of Opposition Business on a point of order?

Dan Tehan (Wannon, Liberal Party, Shadow Minister for Energy and Emissions Reduction) Share this | Link to this | Hansard source

It goes to relevance. We couldn't ask a tighter question. The Prime Minister said yesterday it was time to be honest with the Australian people—

Milton Dick (Speaker) Share this | Link to this | Hansard source

Resume your seat. I thank the manager. I remind him and the leader that all you need to do is state the issue of relevance, which is fine. You're entitled to do that. You don't need to add extra words. That's an abuse of the standing orders. We're going to continue to listen to the Prime Minister. He needs to make his answer directly relevant to the question he was asked regarding carve-outs for small businesses. As I said, I know you're after a list. I can't compel the Prime Minister to do that. I can compel the Prime Minister to be directly relevant to the question, and that's what he's doing at the moment.

Anthony Albanese (Grayndler, Australian Labor Party, Prime Minister) Share this | Link to this | Hansard source

It's precisely what I'm doing. I firstly outlined the reductions in small-business taxation and the measures which are there—$3½ billion of support. We are also changing the capital gains tax regime to go back to 1999. As those opposite know in their hearts, that has different results for some depending upon the circumstances. What we're doing is moving from one lot of discounts to another lot of discounts. We're moving towards the system that was in place before 1999 to tax real gains, not nominal gains. What that does is produce fairer outcomes. What that does is better treat income from assets like income from work.