QUESTIONS WITHOUT NOTICE

Senator WONG (South Australia—Minister for Foreign Affairs and Leader of the Government in the Senate) (14:00): First, I think that is a title in your party room that you keep utilising. I think we have been clear that it is the case that grandfathering arrangements do need to ensure that that scenario is addressed. The Treasurer, I think, made very clear on Insiders on Sunday that the government would address it, and we will do so.

But I again remind those opposite and Senator Paterson—it's interesting that the opposition are not arguing against really most of the policy. The PRESIDENT: Senator Paterson, on a point of order? Senator Paterson: The minister's reflections on the opposition are interesting but not directly relevant to a 22-word question.

The PRESIDENT: The minister has been relevant to your question, and I will continue to listen carefully. Senator WONG: I again say the Treasurer has made clear it will be resolved. It is an issue of the extent of grandfathering arrangements.

Obviously, in an ambitious set of tax policies, it's not unusual for there to be various tranches of legislation, and that is what we intend to do to resolve it. But, Senator, it is reasonable for me to point out you're not even arguing against the policy anymore, because you know that the status quo of the housing market is not sustainable and was not sustainable.

And you know that continuing to give investors an unfair advantage over first home buyers is not sustainable. The PRESIDENT: Senator Cash, on a point of order? Senator Cash: President, it is relevance.

With all due respect, Senator Wong has admitted legislating the tax. The question was quite specific. When did the Prime Minister first become aware that the tax would be legislated?

The PRESIDENT: I will draw the minister back to your question. Senator WONG: I think the government was very clear on budget night that there would be a number of tranches of legislation, and we have been clear with the Australian people that there would be more than one tranche of legislation, including to deal with this issue but also to deal with the startup exemptions and to deal with testamentary trusts.

There are a range of issues that we know will require further consideration after consultation, and the government has been doing that and will continue to do that. The PRESIDENT: Senator Paterson, before I come to you, I'll remind the Senate that it's absolutely fine to rise on points of order, but if you rise on a point of order I expect you to listen in silence to the response.

Senator Paterson, first supplementary?