Mr TURNBULL (Wentworth—Prime Minister) (14:56): Thank you, Mr Speaker. I'll take the opportunity from the question to refer to some important benefits that will flow to the residents and constituents in Braddon from the government's economic plan. There are 39,300 taxpayers in Braddon who will benefit from 1 July this year from our Personal Income Tax Plan, with around 14,600 who will receive the full $530. But that is not all: were Labor to be able to impose its retiree tax, grabbing back the franking credits that retirees are able to enjoy under a law that is fair and has had bipartisan support from the time— Mr Watts interjecting— The SPEAKER: The member for Gellibrand will cease interjecting. If the member for Gellibrand wants to say anything, he will have to get himself a question, frankly. The Prime Minister has the call. Mr TURNBULL: This is the modern Labor Party. They are not even capable of running an effective class war. What do they want to do on the retiree tax? If you are a wealthy investor and you have lots of investments and you get some franking credits from your listed stocks, you can use those franking credits to offset your other tax liabilities. You can do that. Mr Shorten interjecting— Mr TURNBULL: The honourable member opposite is very happy with that. But he's a very confused class warrior because if, on the other hand, you are a retiree of modest means and you are not paying tax—you have a superannuation fund; it is a retirement account and it's not paying tax because of those superannuation rules—and you get some dividends with those franking credits, you don't have other tax liabilities to offset them against. So, from around the year 2000, with bipartisan support—it was Labor policy as well as coalition policy—people in that situation have been able to get the tax credit refunded. That has been fair; it has been obvious. But what the member for Gellibrand, his leader and their whole team want to do is cut retirees' incomes by 20 per cent, 28 per cent—as one lady in her 80s told me—and right up to 30 per cent. How many people are there in Braddon who will be hit by that? The answer is 3,534. In terms of company tax, Tasmania is experiencing a strong economy. There are over 8,000 businesses in Braddon— (Time expired)