Tuesday, 16 June 2026

 Evan MULHOLLAND (Northern Metropolitan) (12:04): (1349) My question is to the Treasurer. Treasurer, in the federal budget the Albanese Labor government announced the removal of the capital gains tax discount for small business. Given 39 per cent of all private sector employees in Victoria are employed in small business and small businesses in Victoria generate $417 billion in income, have you modelled the impact of federal Labor’s massive capital gains tax grab on small business, investment and the Victorian economy?

 Jaclyn SYMES (Northern Victoria – Treasurer, Minister for Industrial Relations, Minister for Development Victoria and Precincts) (12:05): I thank Mr Mulholland for his question. Mr Mulholland, in relation to the federal budget and legislative changes, of course the Victorian Department of Treasury and Finance monitor and give me advice in relation to those impacts. When it comes to changes that are yet to be legislated and indeed have not actually had a bill enter the Parliament, these are matters that we are watching and we will see how negotiations go in relation to what that looks like, and of course I will receive advice as those events unfold. You asked about small business. Small business, we know, is the backbone of many inputs into the Victorian economy. I have got the Economic Growth Statement. I was revisiting it again just recently in relation to making sure that we are on track for all of the commitments that we have made for small business, particularly in relation to supporting businesses to adapt, to access export and to get mentoring support. The Small Business Bus I saw was in my region yesterday, and lots of people were lining up to get that support. Mr Mulholland, when policy matters are settled we will certainly have more to say in relation to how the Victorian government can continue our support for small businesses in the state.

 Evan MULHOLLAND (Northern Metropolitan) (12:06): Treasurer, on 14 May Premier Allan commended the Prime Minister for ‘having the courage’ to change the system. The Labor Premiers of both Western Australia and New South Wales have put their states’ needs above party loyalty by criticising federal Labor’s attack on businesses through their massive capital gains tax grab. Why is your government backing your Labor mates in Canberra and not small businesses in Victoria?

The PRESIDENT: I do not think you can ask that question along political party lines. There have been many, many, many precedents from Presiding Officers around asking questions. I think if you asked ‘Why are you backing the federal government?’ rather than whatever, that would probably be a better way to ask it if that is okay.

Evan MULHOLLAND: Given the Premiers of both Western Australia and New South Wales have put their states’ needs over party loyalty by criticising the federal government’s attack on businesses through their capital gains tax grab, will the Treasurer state a formal position of the government on this attack on small businesses in Victoria?

 Jaclyn SYMES (Northern Victoria – Treasurer, Minister for Industrial Relations, Minister for Development Victoria and Precincts) (12:08): Mr Mulholland, as I indicated in my answer to your substantive question, of course we will monitor any changes and the impact on Victoria. But you asked about the federal budget – this year’s federal budget. Finally we have a federal government that recognises Victorians as Australians. We are finally getting a fair share in relation to infrastructure funding, finally getting recognition in relation to GST carve-out –

Members interjecting.

Jaclyn SYMES: While you might want to attack a federal government that wants to back Victorians, I am happy to work with a federal government that will invest in Victorians.

Evan Mulholland: On a point of order, on relevance, President, I asked if the government had a formal position on the capital gains tax grab on small businesses. I ask the Treasurer to come to the question.

The PRESIDENT: I believe the Treasurer was relevant at the start of her answer.