QUESTIONS WITHOUT NOTICE

Senator WONG (South Australia—Minister for Foreign Affairs and Leader of the Government in the Senate) (14:02): It isn't our practice to provide in Senate question time individual tax advice. The budget measures are clear. Senator Cash: You can't even say whether or not it's going to be— Senator WONG: No, the budget measures are clear.

From 1 July 2027, we will have a different arrangement in relation to capital gains tax, which will reflect the real gain that an asset has had. Senator Cash: Wouldn't have a clue. Senator WONG: If I may, it will reflect the real gain— Senator Cash: Why bother?

Senator WONG: Okay, if you don't want to hear an answer, that's fine. They're interrupting. The PRESIDENT: Senator Duniam, second supplementary?