8. Question No. 8—Small BusinessHon JACQUI DEAN (National—Waitaki) to the Minister for Small BusinessQuestion No. 8—Small Business8. Hon JACQUI DEAN (National—Waitaki) to the Minister for Small Business: Has he sought specific advice on the impact of a capital gains tax on New Zealand's 500000 small businesses; if so what did that advice say?Hon STUART NASH (Minister for Small Business): No I have not but I am aware the Minister of Revenue has seen advice on matters arising from the Tax Working Group report.Hon Jacqui Dean: Has the Minister of Revenue reported to the Minister for Small Business on those reports?Hon STUART NASH: Not officially no but what I can tell you is the Minister of Revenue has seen a report that says and I quote The extent of additional tax that would be payable by small businesses under an extended tax on capital income is not known." But I would like to reiterate that no decisions have been made. We're listening to feedback from right across the community and we're carefully considering all options.Hon Jacqui Dean: Is he concerned about the impact of a capital gains tax on small business?Hon STUART NASH: That's a purely hypothetical question. The reason I say that is I will repeat that there have been absolutely no decisions made at all. We are carefully considering all the options and we will do this before we make any decision.Hon Jacqui Dean: So what does he say to the small-business owner who said about a capital gains tax—I quote—"I just don't understand why on earth they are looking at crippling small and medium businesses. We make up over 90 percent of New Zealand's economy and I'm astounded that Labour don't recognise that we contribute to New Zealand's wealth."?Hon STUART NASH: What I would say to that small-business owner is that the Tax Working Group listed 19 measures that the Government could consider with the aim of reducing compliance costs to small businesses. Of these eight are considered a major impact. Then there were three other productivity-enhancing measures about one of which the Tax Working Group said and I quote "The last of these will have significant benefit to small businesses." But I would like to reiterate that there has been absolutely no decision made on the recommendations put forward by the Tax Working Group. We are carefully considering all the options and we will make decisions in about April.Hon Jacqui Dean: Will he guarantee that a small business with a home office will not be subject to a capital gains tax?Hon STUART NASH: I will repeat for the third time that absolutely no decisions have been made on any of the recommendations put forward by the Tax Working Group. We are listening to all sectors. We are carefully considering all the options and we will make recommendations in good time.Hon Jacqui Dean: Has he heard from any small businesses about their views on a capital gains tax?Hon STUART NASH: What I have heard is a lot of nonsense put forward by the Opposition which is simply not grounded in reality. I suspect that that member has actually not even read the report. This is not play school.SPEAKER: Order! Order! No before the right honourable gentleman goes we're going to have an answer to the question.Hon STUART NASH: At this point I'm not consulting with small business on a capital gains tax because there is no proposal out there to implement a capital gains tax.SPEAKER: OK. I'm now going to very directly ask the Minister to answer the question and I will ask Jacqui Dean to repeat it so it is clear.Hon Jacqui Dean: To the Minister has he heard from any small businesses about their views on a capital gains tax?Hon STUART NASH: No. [Interruption] SPEAKER: Order! [Interruption] Rt Hon Winston Peters: Quiet now. Could I ask the Minister as to whether it's a fact that since 21 February all 500000 small businesses in this country have had a chance or will have a chance over the next few weeks to get in contact with his office or any member of Parliament including if they are desperate the National Party?Hon STUART NASH: The Deputy Prime Minister makes a very good point. What I will say is that I have heard a lot of feedback from small businesses on the R & D tax credit on what we're doing to tax multinationals on how we are putting GST on low-value goods—these are the impacts that are making a real difference to the competitiveness of our economy for small businesses.Hon Gerry Brownlee: I raise a point of order Mr Speaker. In that exchange on the issue of the capital gains and small business the Minister first said he hadn't seen a report but then quoted from a report. Can he table that report?SPEAKER: Does the Minister have the report he was referring to in the House?Hon STUART NASH: No. I don't have it in the House.SPEAKER: No he doesn't have it in the House. Therefore he can't be required to table it."