I move:

That the Senate—

(a) notes that:

(i) the Australian Labor Party has announced its intention to reform cash refunds for excess dividend imputation credits, an idea first proposed by the Australian Greens,

(ii) this policy will predominantly impact on wealthy individuals and, if done properly, will reduce inequality, and

(iii) since making this announcement, the Australian Labor Party has:

  (A) refused to release the Parliamentary Budget Office costing of their policy, and

  (B) effectively conceded that they had not properly accounted for the impact of their policy on pensioners, with the Leader of the Opposition saying they will have “more to say about this”; and

(b) calls on all parties, especially those who say they are committed to progressive taxation, to ensure that this measure will not impact on low income pensioners with few assets.

I seek leave to make a short statement.

Leave is granted for one minute.

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 lower- and middle-income earners, with 86 per cent of the individuals impacted on taxable incomes of less than $37,000. The government calls on the Labor Party to release their costings immediately.

The question is that notice of motion No. 765 standing in the name of Senator Whish-Wilson be agreed to.