Senator FARRELL (South Australia—Minister for Trade and Tourism, Special Minister of State and Deputy Leader of the Government in the Senate) (14:14): I thank Senator Colbeck for his question. I didn't get the opportunity with the previous question to point out just how small the impact of our super change is going to be. It's worth repeating that 99.5 per cent of superannuation recipients are not going to be the subject of this change. In terms of the issue that you've just raised—in terms of unrealised gains—the simplest and least-cost approach is to apply the tax on the growth of an individual's balance over the year. This approach, recommended by Treasury, includes assessing unrealised capital gains. This approach strikes, we believe, the right balance between simplicity and ensuring that the tax can be applied across the system. Trustees already calculate the value of their fund each year and submit that to the tax office, which will enable the ATO to— The PRESIDENT: Minister, please resume your seat. Senator Colbeck? Senator Colbeck: A point of order on relevance: it would be nice if the minister did at least use the word 'farmer', because the question was about whether a farmer might have to sell part of their farm. The PRESIDENT: Thank you, Senator Colbeck. The minister is being relevant to the question. Senator FARRELL: Well, in terms of the question of whether farmers need to liquidate the family farm in, say, an SMF to pay the tax liability: under our superannuation law, funds should have some liquid assets to meet any additional tax liabilities and to meet their running costs. This is no different. There are a range of— Senator McGrath: Do you have any idea of how farms are run? Senator FARRELL: Well, I do have some idea about how to run a small business, Senator McGrath. I do have some practical experience in that matter. (Time expired) The PRESIDENT: Senator Colbeck, first supplementary?