QUESTIONS WITHOUT NOTICE

Senator WONG (South Australia—Minister for Foreign Affairs and Leader of the Government in the Senate) (14:00): Leaving aside the rhetoric over there, I would make the point that I made yesterday: we have actually seen more small businesses under our government over these last years than when we came to government. I would also make the point in relation to trusts that the government made clear in the budget: we will be working with small business and other interested parties around how to deal with the changes in the taxation arrangements.

For the small proportion of small businesses who are affected—I think it was in excess of 90 per cent of small businesses that will not be affected at all—the government indicated we would provide rollover relief if they wish to restructure so as to maintain their tax arrangements in the context of the changing tax laws. In other words, we said, for that proportion of small businesses that do use trusts—again, it's only 10 per cent, I'm advised—we recognise this is a change.

We will have a transition period and a process of consultation around that change, and we will also look at rollover relief so that people can restructure their business arrangements to deal with this change. Senator, I think it's the opposite of the language that you used. We are seeking to be consultative with very important community members and a very important group in our economy, who contribute enormously to the economy more generally but also to local communities.