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You can find the current article at its original source at http://www.theguardian.com/australia-news/live/2016/feb/23/the-coalition-floats-halving-the-capital-gains-discount-for-super-funds-politics-live
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| Version 12 | Version 13 |
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| Labor accuses Malcolm Turnbull of misleading parliament – politics live | Labor accuses Malcolm Turnbull of misleading parliament – politics live |
| (35 minutes later) | |
| 4.39am GMT | |
| 04:39 | |
| Further questions have been placed on the notice paper. I’ll be back with some thoughts on that session shortly. | |
| 4.33am GMT | |
| 04:33 | |
| 4.28am GMT | |
| 04:28 | |
| Labor’s Tony Burke, seconding the motion. | |
| I thought they had changed prime ministers! I thought we were told that there was going to be a new respect for the intelligence of theAustralian people! | |
| I thought people had a sense that the new prime minister would change the culture of the Liberal party, we were told that he would change the Liberal party but, no, the Liberal party has changed him, from the moment he got that job. | |
| 4.26am GMT | |
| 04:26 | |
| A brief diversion into live cattle before back to Labor’s secret plan to drive down the price of your home. Labor’s negative gearing policy will cut the value of your home. | |
| Malcolm Turnbull: | |
| It will mean you can’t afford to borrow money from your home to give money to your kids so they can buy a place. It mean you can’t afford to go on a holiday when you want to start a business, and you go to the bank and you want to borrow some money to start a business, the bank will say: “Well, you better get a valuation.” And you will discover that your home has been reduced in value and it will be entirely the consequence of a deliberate, calculated act by a Labor government. | |
| 4.22am GMT | |
| 04:22 | |
| Malcolm Turnbull: | |
| Mr Speaker, all of – every single one of those Australians after 1st July 2017, if the honourable member becomes prime minister, will not be able to claim a net interest loss on investment made in existing property. | |
| Now, their cunning plan, Mr Speaker, their cunning plan is to say that they can only invest in new property. | |
| Now, we all know that the reason that housing is less affordable than it ought to be, particularly again, I have say, in my own area of Sydney, is because of lack of supply. | |
| They are going to cut the value of your home. | |
| Mr Speaker, that is Labor’s policy. They want to make housing more affordable by making your house worth less. | |
| 4.18am GMT | |
| 04:18 | |
| The prime minister is defending himself in this censure debate. Turnbull says negative gearing is an activity undertaken by nurses and teachers – not surgeons and finance managers. He’s face first in the stats right now. | |
| 4.15am GMT | |
| 04:15 | |
| Shorten: | |
| This fellow here ... he thinks the Australian dream is the ability to negatively gear your seventh house. | |
| 4.13am GMT | 4.13am GMT |
| 04:13 | 04:13 |
| Mere mortals don't understand the extent of the Wentworth genius .. | Mere mortals don't understand the extent of the Wentworth genius .. |
| Shorten, continuing. | Shorten, continuing. |
| Now, I feel a little bit of a pang for poor old Member for Warringah (Tony Abbott). He got undermined by Malcolm Turnbull for making captain’s calls, but as soon as Mr Turnbull is up there, the captain’s call! | Now, I feel a little bit of a pang for poor old Member for Warringah (Tony Abbott). He got undermined by Malcolm Turnbull for making captain’s calls, but as soon as Mr Turnbull is up there, the captain’s call! |
| We know what this leader of the government said. He said there would be no changes to capital gains tax whatsoever. So today we ask him to back in his words and there are really three options the PM could have picked: tell the truth or indeed tell us what was happening with capital gains tax or he could have just said: “Everyone else is wrong.” | We know what this leader of the government said. He said there would be no changes to capital gains tax whatsoever. So today we ask him to back in his words and there are really three options the PM could have picked: tell the truth or indeed tell us what was happening with capital gains tax or he could have just said: “Everyone else is wrong.” |
| We are lucky enough to have an infallible prime minister in this country, we are very lucky to know that we are led by the smartest man in Australia, self-declared – that even when he gets it wrong, he is still right, us mere mortals just don’t understand the extent of Wentworth genius. | We are lucky enough to have an infallible prime minister in this country, we are very lucky to know that we are led by the smartest man in Australia, self-declared – that even when he gets it wrong, he is still right, us mere mortals just don’t understand the extent of Wentworth genius. |
| 4.09am GMT | 4.09am GMT |
| 04:09 | 04:09 |
| This is the second censure order of the day against the prime minister for misleading the House. | This is the second censure order of the day against the prime minister for misleading the House. |
| Bill Shorten: | Bill Shorten: |
| Either this prime minister is dishonest or he is incompetent, he cannot be both. The prime minister needs to rule out increasing capital gains tax on the superannuation accounts of millions of people. | Either this prime minister is dishonest or he is incompetent, he cannot be both. The prime minister needs to rule out increasing capital gains tax on the superannuation accounts of millions of people. |
| What is it about this prime minister that makes him so out of touch that he will defend to the last drop of Liberal blood, reducing the 50% capital gains discount to 25%, when it comes to defending the capital gains tax discount of millions of Australians and their superannuation - well, he is out of town for that. | What is it about this prime minister that makes him so out of touch that he will defend to the last drop of Liberal blood, reducing the 50% capital gains discount to 25%, when it comes to defending the capital gains tax discount of millions of Australians and their superannuation - well, he is out of town for that. |
| The prime minister is so arrogant that he thinks he can say unsay words and make them miraculously disappear, but the problem for him is this: every journalist in the press gallery heard exactly what he said, every newspaper in Australia showed that he was ruling out tackling capital gains tax, and what does he do? | The prime minister is so arrogant that he thinks he can say unsay words and make them miraculously disappear, but the problem for him is this: every journalist in the press gallery heard exactly what he said, every newspaper in Australia showed that he was ruling out tackling capital gains tax, and what does he do? |
| No, they are all wrong. | No, they are all wrong. |
| 4.04am GMT | 4.04am GMT |
| 04:04 | 04:04 |
| Rightio, here comes the suspension of the standing orders. | Rightio, here comes the suspension of the standing orders. |
| 4.03am GMT | 4.03am GMT |
| 04:03 | 04:03 |
| Turnbull is persisting with his argument that he was taken out of context yesterday on CGT. | Turnbull is persisting with his argument that he was taken out of context yesterday on CGT. |
| It is perfectly obvious that - perfectly clear that I was talking about Labor’s proposal to increase capital gains tax on individuals, and it was perfectly obvious that that’s what the Member for McMahon (Chris Bowen) was talking about. | It is perfectly obvious that - perfectly clear that I was talking about Labor’s proposal to increase capital gains tax on individuals, and it was perfectly obvious that that’s what the Member for McMahon (Chris Bowen) was talking about. |
| (Nope, nope, nope.) | (Nope, nope, nope.) |
| Malcolm Turnbull: | Malcolm Turnbull: |
| When you are in a tax hole, stop digging. | When you are in a tax hole, stop digging. |
| (Quite universal, that advice, I reckon.) | (Quite universal, that advice, I reckon.) |
| 3.59am GMT | 3.59am GMT |
| 03:59 | 03:59 |
| We are proceeding. | We are proceeding. |
| Malcolm Turnbull: | Malcolm Turnbull: |
| I think what the opposition is doing here demeans this House. It demonstrates a desperation that really insults the intelligence of the Australian people. | I think what the opposition is doing here demeans this House. It demonstrates a desperation that really insults the intelligence of the Australian people. |