Mr SWAN (Lilley—Deputy Prime Minister and Treasurer) (14:30): I am certainly looking forward to the recommendations which will come forward from the state Treasurers when it comes to their inefficient state taxes—certainly that is a process which is in place. What we have put in place is the MRRT, which I think is a very important reform, which achieves all of the objectives that the member opposite has outlined and of course is opposed by those opposite who want to give a very big tax cut to Gina Rinehart and Clive Palmer. That is one of the most fundamental reforms. But let us have a look at the $6,500 instant asset write-off—which replaces a complex set of systems, a complex set of paperwork, going right down the line—that was recommended to us by the tax review. Mr Hockey interjecting— Mr SWAN: Here we go again—a bit sensitive about tax, are we? Mr Hockey: Madam Deputy Speaker, on a point of order: I am endeavouring to help my colleague and friend the member for Lyne, who asked the Treasurer to be relevant. Name one inefficient tax that you have abolished. The DEPUTY SPEAKER: The member for North Sydney will resume his seat. Points of order are not opportunities for debate. The Treasurer has the call. Mr SWAN: Very simply, the write-off rules which apply to capital items purchased by small businesses have been replaced by the $6,500 instant asset write-off, pumping $1 billion into the economy to increase the cash flow of small business—something we are all very proud of and something that was opposed by those opposite.