Katy Gallagher ACT, Australian Labor Party
2:56 pm
My question is to the Minister for Finance, Senator Cormann. I refer the minister to what he said last month:
The government has absolutely no intention of reducing the capital gains tax discount or making changes to negative gearing.
Does the minister stand by his statement?
Katy Gallagher ACT, Australian Labor Party
I refer to recent reports that indicate that Treasury officials have been modelling reductions in the capital gains tax concession for investors. Given that the reports contradict the minister's past statement, has he discussed with the Treasurer the nature and purpose of this modelling?
Mathias Cormann WA, Liberal Party, Minister for Finance
There is nothing in the quote that Senator Gallagher has read out that contradicts anything that I have said. I stand by my first answer.
Stephen Parry President
Senator Gallagher, a final supplementary question.
Katy Gallagher ACT, Australian Labor Party
Given the ongoing reports indicating division within the government on capital gains tax, is it not clear that someone in your party room supports Labor's call for reform of the capital gains tax?
Mathias Cormann WA, Liberal Party, Minister for Finance
I completely disagree with the inaccurate characterisation that Senator Gallagher has put forward. The coalition is strongly united behind our National Economic Plan for Jobs and Growth. We are strongly united behind the plan that we took to the last election, and that plan of course included our opposition to Labor's disastrous proposals in relation to negative gearing, which would drive up the cost of rental accommodation, drive down the value of established properties around Australia and have a bad effect on investment in our economy. All of these arguments were well articulated in the lead-up to the last election. All of us in the coalition are united behind the policy we took to the last election.