Mr COLEMAN (Banks) (15:39): Here we are about lower tax; over there they are about higher tax. Nowhere is it more obvious than in relation to these small and medium sized business tax cuts that have recently gone through the parliament. Small and medium sized businesses with revenues of between $2 million and $50 million will receive substantial tax reductions under the legislation that has gone through the parliament that those opposite voted against. But they opposed those tax reductions so, presumably, if they get into government, they will unwind them. What does that actually mean? It means a $25.4 billion tax increase: those opposite propose for small and medium sized businesses in Australia a $25.4 billion tax increase. They like to talk about multinationals and the big end of town, mustering as much menace as they can in that statement, but these are businesses of $2 million to $50 million—small businesses, medium sized businesses. There are about 130,000 of them that benefit through the government's policy and, if you take that $25 billion tax reduction over the decade, how much does that work out at on average for each of those small and medium sized businesses? On average, it is about $224,000. If those opposite are saying that they do not support the legislated changes for small and medium sized businesses with $2 million or more turnover, which have already passed through the parliament, it adds up to $25 billion in tax savings for those businesses. There are 113,000 of those businesses, so an average is $224,000 more tax for small and medium sized Australian businesses relative to the legislation that is actually law now because it is through the parliament. That is a massive contrast. The other thing that those opposite want to do is increase the tax on investment in Australia by 50 per cent for everything. They want to increase capital gains tax by 50 per cent for everything, and this is because of their so-called housing affordability policy designed, supposedly, to address the housing affordability issue in Sydney and Melbourne. Mr Tim Wilson: Cash-grab policy! Mr COLEMAN: But, as the member for Goldstein rightly interjects, it is a cash-grab policy, because how does increasing the tax by 50 per cent on someone who invests in a farm outside Mudgee address housing affordability in the major capital cities? How does increasing capital gains tax by 50 per cent on someone who invests in a cafe have anything to do with housing affordability or indeed somebody who invests in a factory? What about all those situations in Australia at the moment where factory workers get together and buy the business to keep it going? If they do that in the future under Labor, they will pay 50 per cent more tax. That is a policy that kills investment and kills jobs. It is an extremely bad idea. They also want to have an extremely high marginal rate of tax for people who earn over $87,000 because they say, in relation to funding the NDIS, that people who are earning over $87,000 are rich, that they can afford to contribute to the funding of the NDIS and so they pay a hugely disproportionate burden. At the $87,000 rate, your marginal rate of tax, including the Medicare levy, should be about 39 per cent. Under the policy of those opposite, as soon as you hit $87,000, you pay the Medicare levy of $400 plus. So what that means is: if you are earning $90,000, your effective rate of tax over $87,000 is actually 54 per cent. If you are earning $92,000, your effective rate of tax above $87,000 is 48 per cent; $95,000, 45 per cent; and $100,000, 43 per cent. That is creating a very substantial disincentive for those people who are not wealthy, certainly, in my electorate, where the median house price is well over a million dollars. Someone who is earning $87,000 is far from wealthy, but those opposite say: 'Let's tax them at an effectively higher marginal rate of tax than they would otherwise pay.' They talk about the big end of town and millionaires and billionaires, but their definition of that is a small business that turns over $2 million—it probably makes a five per cent profit, so really it is making $100,000 a year—or somebody who earns over $87,000 a year, which in metropolitan Australia is by no means a large amount of money. They oppose sensible measures to crack down on multinational tax avoidance and have been very successful and have already raised over $2 million. Those opposite: they are about higher taxes. They do not understand what it takes to run an economy; this side does, and we have much stronger policies on tax.