Senate debates Questions without Notice

Taxation


Penny Wong

Penny Wong SA, Australian Labor Party, Minister for Foreign Affairs

2:49 pm

First, I'd make the point that that is the government's position and that is what is outlined in the budget. Farm income will be exempt from the changes we will introduce for the tax arrangements for discretionary trusts. I cannot give advice on everybody's tax position or tax arrangements, but I can indicate to you that the overwhelming majority of small businesses and families do not have the tax advantages that you are defending.

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