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Income Tax Rates Amendment (Tax Reform No. 1)

Current status

This bill became law on Jun 26th, 2026.

Policy area

Budget, tax & economy

What does this bill do?

From 1 July 2027, Australian resident individuals with capital gains will face a 30% minimum tax on those gains if their tax would otherwise be lower.

Why was it introduced?

The current capital gains taxTax on the profit someone makes when they sell an asset, such as property or shares, for more than it cost them. rules can let resident individuals pay less than a 30% tax rate on capital gains. The bill requires a 30% minimum tax from 1 July 2027 and replaces the 50% CGT discountThe existing rule that lets some individuals, trusts and partnerships count only half of an eligible capital gain as taxable income; the bill replaces it for many assets. with indexationA method that increases an asset's cost base for inflation so tax is charged only on the gain above inflation., with exceptions for basic income support recipients and some housing investments.

Broader context

Australia already had a 50 per cent capital gains tax discountThe existing rule that lets some individuals, trusts and partnerships count only half of an eligible capital gain as taxable income; the bill replaces it for many assets. and no general 30 per cent floor for resident individuals’ tax on capital gains, settings the government linked to lighter taxation of asset income and harder conditions for younger home buyers. After announcing capital gains taxTax on the profit someone makes when they sell an asset, such as property or shares, for more than it cost them. and negative gearingA tax setting where an investor can deduct rental property losses from other income; the wider package limits this for residential property to new builds. changes in the 2026–27 Budget, Hon Dr Jim Chalmers MP introduced the bill, Parliament passed it in June 2026, and the ATOThe federal agency that administers tax law and later confirmed these tax changes would apply from 1 July 2027. later confirmed the changes were law and would apply from 1 July 2027.

Key criticism

The main criticism was that the bill’s capital gains taxTax on the profit someone makes when they sell an asset, such as property or shares, for more than it cost them. and related housing tax changes would raise taxes on investment, reduce private housing supply, and hurt small businesses, farmers, startups and regional Australians. This was raised chiefly by Coalition MPs, while Kate Chaney opposed the bill in its current form despite supporting the housing-focused parts and called for narrower reform or more consultation.

Who supported it?

Hon Dr Jim Chalmers MP introduced this bill. In the House final vote, support came from Labor, Greens, some crossbench members; opposition came from Liberal, Nationals, One Nation, Centre Alliance, Katter's Australian Party, LNP, Liberal Party, some crossbench members.

Introduced in House 28 May 2026
Passed House 04 June 2026 Aye 94 No 48
Passed Senate 25 June 2026 Aye 35 No 25
Became law 26 June 2026

Did it become law?

Yes

Became law 26 June 2026

Final passage

Recorded final vote

3 counted final-passage votes were recorded.

Passage speed

29 days

From introduction to the latest recorded parliamentary step

Official record

View on APH

Parliament of Australia bill page

Meaning

What does this bill do?

  1. From 1 July 2027, Australian resident individuals with capital gains will face a 30% minimum tax on those gains if their tax would otherwise be lower.

  2. People receiving prescribed basic income support payments, intended to include the Age Pension or JobSeeker, will not pay the new minimum tax on capital gains.

  3. From 1 July 2027, individuals, trusts and partnerships lose the 50% capital gains taxTax on the profit someone makes when they sell an asset, such as property or shares, for more than it cost them. discount and instead index asset costs so only real gains are taxed.

  4. Investors in new residential dwellings and affordable housingHousing supplied under rules meant to keep it cheaper for eligible renters or buyers, which can still receive special capital gains tax treatment under the bill. can still choose capital gains taxTax on the profit someone makes when they sell an asset, such as property or shares, for more than it cost them. discounts instead of the new capital gains rules.

  5. Assets bought before capital gains taxTax on the profit someone makes when they sell an asset, such as property or shares, for more than it cost them. began in 1985 will be taxed on gains after 1 July 2027, but earlier gains stay exempt.

Show source excerpts
  1. A 30 per cent minimum rate of tax applies to capital gains of Australian resident individuals from 1 July 2027.
    Income Tax Rates Amendment (Tax Reform No. 1) explanatory memorandum
  2. The minimum tax will not apply to recipients of certain payments of a kind prescribed in a legislative instrument by the Minister, if they receive a payment at any time in the income year. It is intended that such payments include payments or pensions relied upon for basic living expenses, such as the Age Pension or JobSeeker. See below for further information. The minimum tax will also not affect individuals who are already taxed at rates of tax of at least 30 per cent on capital gains.
    Income Tax Rates Amendment (Tax Reform No. 1) explanatory memorandum
  3. First, the amendments replace the 50 per cent CGT discount for individuals, trusts and partnerships with cost base indexation from 1 July 2027. This will realign the CGT regime with its original policy intent that only real gains are subject to taxation.
    Income Tax Rates Amendment (Tax Reform No. 1) explanatory memorandum
  4. Sixth, the amendments allow individual investors in new residential dwellings to choose between a 50 per cent CGT discount and the new arrangements. This maintains incentives for investors to supply new housing.
    Income Tax Rates Amendment (Tax Reform No. 1) explanatory memorandum
  5. The Bill also brings all pre-CGT assets (which are assets acquired before 20 September 1985) into the CGT regime from 1 July 2027. While any capital gains accrued on these assets before 1 July 2027 will continue to be exempt from CGT (subject to existing rules such as CGT event K6), capital gains from these assets accruing on or after 1 July 2027 will be subject to the new arrangements.
    Income Tax Rates Amendment (Tax Reform No. 1) explanatory memorandum

Context

Broader context for this bill

Australia already had a 50 per cent capital gains tax discountThe existing rule that lets some individuals, trusts and partnerships count only half of an eligible capital gain as taxable income; the bill replaces it for many assets. and no general 30 per cent floor for resident individuals’ tax on capital gains, settings the government linked to lighter taxation of asset income and harder conditions for younger home buyers. After announcing capital gains taxTax on the profit someone makes when they sell an asset, such as property or shares, for more than it cost them. and negative gearingA tax setting where an investor can deduct rental property losses from other income; the wider package limits this for residential property to new builds. changes in the 2026–27 Budget, Hon Dr Jim Chalmers MP introduced the bill, Parliament passed it in June 2026, and the ATOThe federal agency that administers tax law and later confirmed these tax changes would apply from 1 July 2027. later confirmed the changes were law and would apply from 1 July 2027.

  1. 12 May 2026

    Budget announces capital gains taxTax on the profit someone makes when they sell an asset, such as property or shares, for more than it cost them. and negative gearingA tax setting where an investor can deduct rental property losses from other income; the wider package limits this for residential property to new builds. changes

    The government announced in the 2026–27 Federal Budget that it would replace the 50 per cent CGT discountThe existing rule that lets some individuals, trusts and partnerships count only half of an eligible capital gain as taxable income; the bill replaces it for many assets. with indexationA method that increases an asset's cost base for inflation so tax is charged only on the gain above inflation., add a 30 per cent minimum tax on capital gainsThe new rule that makes resident individuals pay at least 30 per cent tax on their capital gains unless an exemption applies., and limit negative gearingA tax setting where an investor can deduct rental property losses from other income; the wider package limits this for residential property to new builds. for residential property to new builds from 1 July 2027.

    Australian Taxation Office ↗
  2. 28 May 2026

    Hon Dr Jim Chalmers MP introduces the bill

    The bill was introduced in the House of Representatives as part of the first tax reform package to give effect to the Budget’s capital gains taxTax on the profit someone makes when they sell an asset, such as property or shares, for more than it cost them. changes.

    Parliamentary timeline ↗
  3. 04 June 2026

    House passes the bill

    The House of Representatives agreed to the bill’s third reading, completing its passage through the originating chamber.

    Parliamentary timeline ↗
  4. 25 June 2026

    Parliament passes the bill

    Both houses passed the bill in the same form, completing the parliamentary decision on the capital gains taxTax on the profit someone makes when they sell an asset, such as property or shares, for more than it cost them. rate changes.

    Parliamentary timeline ↗
  5. 26 June 2026

    Royal AssentThe formal approval by the Governor-General that turns a bill passed by Parliament into an Act. makes the bill an Act

    The Governor-General gave Royal AssentThe formal approval by the Governor-General that turns a bill passed by Parliament into an Act., turning the bill into law before the later start date for the new capital gains taxTax on the profit someone makes when they sell an asset, such as property or shares, for more than it cost them. rules.

    Parliamentary timeline ↗
  6. 29 June 2026

    ATOThe federal agency that administers tax law and later confirmed these tax changes would apply from 1 July 2027. confirms the new rules are law from 1 July 2027

    The ATOThe federal agency that administers tax law and later confirmed these tax changes would apply from 1 July 2027. said the tax reform measures were now law and would apply from 1 July 2027, including replacement of the 50 per cent CGT discountThe existing rule that lets some individuals, trusts and partnerships count only half of an eligible capital gain as taxable income; the bill replaces it for many assets. and the 30 per cent minimum tax on capital gainsThe new rule that makes resident individuals pay at least 30 per cent tax on their capital gains unless an exemption applies..

    Australian Taxation Office ↗
  7. 14 July 2026

    ABC links property tax breaks to the wider productivity debate

    ABC analysis said Australian property had been boosted for three decades by tax breaks, falling interest rates and population growth, placing the changes in a wider debate about tax, housing and productivity.

    ABC News ↗

Legislative route

How did it move through Parliament?

House Senate
Introduced 28 May 2026

The bill was formally presented to the chamber and read a first time, which starts its parliamentary journey.

Introduced and read a first time

Second reading opened 28 May 2026

A minister or sponsoring member moved the second reading, opening the main debate on the bill's purpose and principles.

Second reading moved

Economics review 28 May 2026

Referred to Committee (28/05/2026): Senate Economics Legislation Committee; Committee report (19/06/2026)

Report tabled 19 Jun 2026

APH bill page notes
Second reading debate 02 June 2026

The bill reached this recorded parliamentary step.

Second reading debate 03 June 2026

The bill reached this recorded parliamentary step.

Second reading debate 04 June 2026

The bill reached this recorded parliamentary step.

House second reading agreed Aye 96 No 46 04 June 2026

Recorded vote: 96 to 46.

The chamber agreed to the bill at second reading, meaning it accepted the bill in principle and allowed it to continue.

Second reading agreed to

Consideration in detail 04 June 2026

The chamber considered the bill in detail and dealt with amendments before the next stage.

Consideration in detail debate

House third reading agreed Aye 94 No 48 04 June 2026

Recorded vote: 94 to 48.

The chamber agreed to the bill at third reading, which completed passage through that chamber.

Third reading agreed to

Introduced 22 June 2026

The bill was formally presented to the chamber and read a first time, which starts its parliamentary journey.

Introduced and read a first time

Second reading opened 22 June 2026

A minister or sponsoring member moved the second reading, opening the main debate on the bill's purpose and principles.

Second reading moved

Second reading debate 22 June 2026

The bill reached this recorded parliamentary step.

Second reading debate 23 June 2026

The bill reached this recorded parliamentary step.

Second reading debate 24 June 2026

The bill reached this recorded parliamentary step.

Senate second reading agreed Aye 33 No 23 25 June 2026

Recorded vote: 33 to 23.

The chamber agreed to the bill at second reading, meaning it accepted the bill in principle and allowed it to continue.

Second reading agreed to

Committee of the WholeA Senate stage for detailed debate on a bill and its amendments after senators have agreed to consider it in principle. debate 25 June 2026

The bill reached this recorded parliamentary step.

Senate third reading agreed Aye 35 No 25 25 June 2026

Recorded vote: 35 to 25.

The chamber agreed to the bill at third reading, which completed passage through that chamber.

Third reading agreed to

Passed both houses 25 June 2026

Both houses passed the bill in the same form, completing parliamentary passage.

Finally passed both Houses

Assent 26 June 2026

The Governor-General gave Royal AssentThe formal approval by the Governor-General that turns a bill passed by Parliament into an Act., turning the bill into an Act.

Key criticism

The main case against this bill

The main criticism was that the bill’s capital gains taxTax on the profit someone makes when they sell an asset, such as property or shares, for more than it cost them. and related housing tax changes would raise taxes on investment, reduce private housing supply, and hurt small businesses, farmers, startups and regional Australians. This was raised chiefly by Coalition MPs, while Kate Chaney opposed the bill in its current form despite supporting the housing-focused parts and called for narrower reform or more consultation.

Criticism focused on investment, housing supply and process, not mainly on the worker tax relief elements.

Lower housing supply

Opponents argued that changing capital gains taxTax on the profit someone makes when they sell an asset, such as property or shares, for more than it cost them. and negative gearingA tax setting where an investor can deduct rental property losses from other income; the wider package limits this for residential property to new builds. would discourage private investors from funding rental and new housing, leaving Australia with fewer homes and worse affordability rather than helping first home buyers.

Raised by Coalition MPs including Garth Hamilton, Michelle Landry, Melissa Price and Aaron Violi Source ↗

Higher tax on savings and business investment

Critics said the package bundled supported tax relief with broader tax increases on capital gains that would punish saving and productive investment, with particular risks for small businesses, farmers, startups and regional Australians.

Raised by Coalition MPs including Michelle Landry, Melissa Price, Angus Taylor and Aaron Violi Source ↗

Too broad and under-consulted

Kate Chaney argued the government had not justified extending the capital gains taxTax on the profit someone makes when they sell an asset, such as property or shares, for more than it cost them. changes beyond housing, warning that the bill should be limited to property or slowed down for proper consultation because of risks to startups and productive investment.

Raised by Kate Chaney Source ↗

Rushed inquiry process

Opposition senators sought to record that the inquiry process was rushed and opaque, but the Senate rejected the grouped second-reading amendments containing that criticism.

Raised by Opposition senators Source ↗

Further sources

parlinfo.aph.gov.au ↗ parlinfo.aph.gov.au ↗

Votes

Recorded votes

How the bill itself passed

The chamber-passage votes come first. Expand a vote to see the party breakdown.

Carried

House passed the bill

Aye 94 No 48

Passed 94 to 48. Support came from Labor, Greens, and minor parties and independents. Opposition came from Liberal, Nationals, One Nation, and Centre Alliance. Minor-party and independent votes were split.

04 June 2026

Party Recorded votes Aye / No
Labor 88 / 0
Liberal 0 / 22
Nationals 0 / 14
Independent 3 / 6
One Nation 0 / 2
Unknown 2 / 0
Greens 1 / 0
Centre Alliance 0 / 1
Katter's Australian Party 0 / 1
LNP 0 / 1
Liberal Party 0 / 1
Carried

House passed the bill

Aye 94 No 48

Passed 94 to 48. Support came from Labor, Greens, and minor parties and independents. Opposition came from Liberal, Nationals, One Nation, and Centre Alliance. Minor-party and independent votes were split.

04 June 2026

Party Recorded votes Aye / No
Labor 88 / 0
Liberal 0 / 22
Nationals 0 / 14
Independent 3 / 6
One Nation 0 / 2
Unknown 2 / 0
Greens 1 / 0
Centre Alliance 0 / 1
Katter's Australian Party 0 / 1
LNP 0 / 1
Liberal Party 0 / 1
Carried

Senate passed the bill

Aye 35 No 25

Passed 35 to 25. Support came from Labor, Greens, and minor parties and independents. Opposition came from Liberal, One Nation, Nationals, and Liberal Party.

25 June 2026

Party Recorded votes Aye / No
Labor 23 / 0
Liberal 0 / 16
Greens 10 / 0
One Nation 0 / 4
Nationals 0 / 3
Independent 2 / 0
Liberal Party 0 / 1
UAP 0 / 1

Earlier bill-stage votes

Carried

House cleared second reading

Aye 96 No 46

Passed 96 to 46. Support came from Labor and Greens. Opposition came from Liberal, Nationals, Centre Alliance, and One Nation. Minor-party and independent votes were split.

04 June 2026

Party Recorded votes Aye / No
Labor 83 / 0
Liberal 0 / 23
Nationals 0 / 14
Independent 5 / 5
Unknown 7 / 2
Greens 1 / 0
Centre Alliance 0 / 1
One Nation 0 / 1
Carried

House cleared second reading

Aye 94 No 48

Passed 94 to 48. Support came from Labor and Greens. Opposition came from Liberal, Nationals, One Nation, and Centre Alliance. Minor-party and independent votes were split.

04 June 2026

Party Recorded votes Aye / No
Labor 83 / 0
Liberal 0 / 22
Nationals 0 / 14
Independent 3 / 7
Unknown 7 / 2
One Nation 0 / 2
Greens 1 / 0
Centre Alliance 0 / 1
Carried

Senate cleared second reading

Aye 33 No 23

Passed 33 to 23. Support came from Labor, Greens, and minor parties and independents. Opposition came from Liberal, One Nation, Nationals, and Liberal Party.

25 June 2026

Party Recorded votes Aye / No
Labor 21 / 0
Liberal 0 / 14
Greens 10 / 0
One Nation 0 / 4
Nationals 0 / 3
Independent 2 / 0
Liberal Party 0 / 1
UAP 0 / 1

Amendments at a glance

Recorded amendment and procedural votes grouped by chamber. Expand a vote to see the party breakdown.

House

Carried

Bring the bill on immediately

Aye 90 No 48

Passed 90 to 48. Support came from Labor and minor parties and independents. Opposition came from Liberal, Nationals, Centre Alliance, LNP, and minor parties and independents. Liberal Party had split recorded votes.

02 June 2026

This let the government start dealing with the bill straight away rather than waiting until later in the program.

Party Recorded votes Aye / No
Labor 88 / 0
Liberal 0 / 21
Nationals 0 / 14
Independent 0 / 9
Liberal Party 1 / 1
Centre Alliance 0 / 1
LNP 0 / 1
One Nation 0 / 1
Unknown 1 / 0
Defeated

Refer the bill to committee

Aye 46 No 90

Defeated 46 to 90. Support came from Liberal, Nationals, One Nation, LNP, and minor parties and independents. Opposition came from Labor and minor parties and independents.

03 June 2026

The motion was defeated, so the bills stayed on the floor of the House instead of being sent for a fresh committee inquiry there.

Party Recorded votes Aye / No
Labor 0 / 87
Liberal 22 / 0
Nationals 12 / 0
Independent 8 / 0
Unknown 0 / 3
One Nation 2 / 0
LNP 1 / 0
Liberal Party 1 / 0
Carried

End second reading debate

Aye 89 No 49

Passed 89 to 49. Support came from Labor. Opposition came from Liberal, Nationals, Centre Alliance, One Nation, and minor parties and independents. Minor-party and independent votes were split.

04 June 2026

This cut off further second reading speeches and moved the House straight to deciding the bill and the pending second reading amendments.

Party Recorded votes Aye / No
Labor 82 / 0
Liberal 0 / 23
Nationals 0 / 13
Independent 0 / 9
Unknown 7 / 2
Centre Alliance 0 / 1
One Nation 0 / 1
Defeated

House voted on a proposed amendment

Aye 8 No 92

Defeated 8 to 92. Support came from Centre Alliance. Opposition came from Labor and minor parties and independents. Minor-party and independent votes were split.

04 June 2026

The proposed change was not agreed.

Party Recorded votes Aye / No
Labor 0 / 86
Independent 7 / 3
Unknown 0 / 3
Centre Alliance 1 / 0
Defeated

Call to lift small business thresholds

Aye 10 No 89

Defeated 10 to 89. Support came from Centre Alliance and minor parties and independents. Opposition came from Labor and minor parties and independents.

04 June 2026

The amendment was defeated, so the House did not add that call to the bill's second-reading motion.

Party Recorded votes Aye / No
Labor 0 / 86
Independent 9 / 0
Unknown 0 / 3
Centre Alliance 1 / 0
Defeated

House voted on a proposed amendment

Aye 8 No 127

Defeated 8 to 127. Opposition came from Labor, Liberal, Nationals, Centre Alliance, and minor parties and independents. Minor-party and independent votes were split.

04 June 2026

The proposed change was not agreed.

Party Recorded votes Aye / No
Labor 0 / 86
Liberal 0 / 20
Nationals 0 / 14
Independent 8 / 1
Unknown 0 / 3
Centre Alliance 0 / 1
LNP 0 / 1
Liberal Party 0 / 1
Defeated

Call to limit CGT changes to housing

Aye 9 No 126

Defeated 9 to 126. Support came from minor parties and independents. Opposition came from Labor, Liberal, Nationals, Centre Alliance, and minor parties and independents.

04 June 2026

The amendment was defeated, so the House did not endorse narrowing the CGTTax on the profit someone makes when they sell an asset, such as property or shares, for more than it cost them. changes to residential property alone at second reading.

Party Recorded votes Aye / No
Labor 0 / 87
Liberal 0 / 21
Nationals 0 / 13
Independent 9 / 0
Unknown 0 / 3
Centre Alliance 0 / 1
LNP 0 / 1
Defeated

House voted on a proposed amendment

Aye 43 No 92

Defeated 43 to 92. Support came from Liberal, Nationals, Centre Alliance, and LNP. Opposition came from Labor and minor parties and independents. Minor-party and independent votes were split.

04 June 2026

The proposed change was not agreed.

Party Recorded votes Aye / No
Labor 0 / 87
Liberal 22 / 0
Nationals 14 / 0
Independent 3 / 2
Unknown 0 / 3
Centre Alliance 1 / 0
LNP 1 / 0
Liberal Party 1 / 0
One Nation 1 / 0
Carried

Pause debate until later today

Aye 92 No 48

Passed 92 to 48. Support came from Labor. Opposition came from Liberal, Nationals, Centre Alliance, and One Nation. Minor-party and independent votes were split.

04 June 2026

This temporarily paused proceedings on the bill while keeping it scheduled to resume later on 4 June.

Party Recorded votes Aye / No
Labor 83 / 0
Liberal 0 / 22
Nationals 0 / 14
Independent 2 / 8
Unknown 7 / 2
Centre Alliance 0 / 1
One Nation 0 / 1
Defeated

Call to drop higher taxes

Aye 41 No 94

Defeated 41 to 94. Support came from Liberal, Nationals, One Nation, and Centre Alliance. Opposition came from Labor and minor parties and independents.

04 June 2026

The amendment was defeated, so the House did not add that criticism and call to action to the second-reading motion.

Party Recorded votes Aye / No
Labor 0 / 87
Liberal 22 / 0
Nationals 14 / 0
Independent 0 / 4
Unknown 0 / 3
One Nation 2 / 0
Centre Alliance 1 / 0
LNP 1 / 0
Liberal Party 1 / 0
Defeated

Cut future income tax rates

Aye 9 No 73

Defeated 9 to 73. Support came from Liberal and minor parties and independents. Opposition came from Labor and minor parties and independents.

04 June 2026

The amendment was defeated, so the bill kept the government's income tax rate settings rather than adding the proposed staged rate cuts.

Party Recorded votes Aye / No
Labor 0 / 70
Independent 8 / 0
Unknown 0 / 3
Liberal 1 / 0
Carried

Delay debate to the next sitting

Aye 91 No 48

Passed 91 to 48. Support came from Labor and minor parties and independents. Opposition came from Liberal, Nationals, Centre Alliance, Liberal Party, and minor parties and independents.

28 May 2026

This postponed further House debate on the newly introduced bill until the next sitting day.

Party Recorded votes Aye / No
Labor 90 / 0
Liberal 0 / 23
Nationals 0 / 13
Independent 0 / 9
Centre Alliance 0 / 1
Liberal Party 0 / 1
One Nation 0 / 1
Unknown 1 / 0

Did not vote: LNP, Nationals

Senate

Carried

End first reading debate

Aye 32 No 23

Passed 32 to 23. Support came from Labor, Greens, and minor parties and independents. Opposition came from Liberal, One Nation, Nationals, and Liberal Party.

22 June 2026

This cut off further debate at that point and moved the Senate on to deciding the formal first reading questions.

Party Recorded votes Aye / No
Labor 21 / 0
Liberal 0 / 15
Greens 10 / 0
One Nation 0 / 4
Nationals 0 / 2
Independent 1 / 0
Liberal Party 0 / 1
UAP 0 / 1
Carried

Skip first reading formalities

Aye 32 No 23

Passed 32 to 23. Support came from Labor, Greens, and minor parties and independents. Opposition came from Liberal, One Nation, Nationals, and Liberal Party.

22 June 2026

Agreeing to this let the Senate move ahead more quickly with the bills' consideration.

Party Recorded votes Aye / No
Labor 21 / 0
Liberal 0 / 15
Greens 10 / 0
One Nation 0 / 4
Nationals 0 / 2
Independent 1 / 0
Liberal Party 0 / 1
UAP 0 / 1
Defeated

Call to index income tax brackets

Aye 24 No 30

Defeated 24 to 30. Support came from Liberal, One Nation, Nationals, Liberal Party, and minor parties and independents. Opposition came from Labor and Greens.

25 June 2026

The amendment was defeated, so the Senate did not attach that call for automatic bracket indexationA method that increases an asset's cost base for inflation so tax is charged only on the gain above inflation. to the bill's second-reading motion.

Party Recorded votes Aye / No
Labor 0 / 21
Liberal 14 / 0
Greens 0 / 9
One Nation 4 / 0
Nationals 3 / 0
Independent 1 / 0
Liberal Party 1 / 0
UAP 1 / 0
Defeated

Criticise rushed Senate scrutiny

Aye 24 No 32

Defeated 24 to 32. Support came from Liberal, One Nation, Nationals, and Liberal Party. Opposition came from Labor, Greens, and minor parties and independents.

25 June 2026

The Senate declined to add those criticisms and related calls to the second-reading motion.

Party Recorded votes Aye / No
Labor 0 / 22
Liberal 15 / 0
Greens 0 / 9
One Nation 4 / 0
Nationals 3 / 0
Independent 0 / 1
Liberal Party 1 / 0
UAP 1 / 0
Defeated

Call to reinvest tax savings in housing

Aye 11 No 33

Defeated 11 to 33. Support came from Greens and minor parties and independents. Opposition came from Labor, Liberal, One Nation, and UAP.

25 June 2026

The amendment was defeated, so the Senate did not attach that housing reinvestment call to the second-reading motion.

Party Recorded votes Aye / No
Labor 0 / 23
Greens 10 / 0
Liberal 0 / 5
One Nation 0 / 4
Independent 1 / 0
UAP 0 / 1
Defeated

Senate voted on a proposed amendment

Aye 23 No 32

Defeated 23 to 32. Support came from Liberal, One Nation, Nationals, and Liberal Party. Opposition came from Labor, Greens, and minor parties and independents.

25 June 2026

The proposed change was not agreed.

Party Recorded votes Aye / No
Labor 0 / 20
Liberal 14 / 0
Greens 0 / 10
One Nation 4 / 0
Nationals 3 / 0
Independent 0 / 2
Liberal Party 1 / 0
UAP 1 / 0
Defeated

Senate voted on debate procedure

Aye 24 No 31

Defeated 24 to 31. Support came from Liberal, One Nation, Nationals, and Liberal Party. Opposition came from Labor and Greens. Minor-party and independent votes were split.

25 June 2026

This was a procedural vote, not a final vote on whether the bill would become law.

Party Recorded votes Aye / No
Labor 0 / 20
Liberal 14 / 0
Greens 0 / 10
One Nation 4 / 0
Nationals 3 / 0
Independent 1 / 1
Liberal Party 1 / 0
UAP 1 / 0
Carried

Keep CGT and gearing changes

Aye 34 No 25

Passed 34 to 25. Support came from Labor, Greens, and minor parties and independents. Opposition came from Liberal, One Nation, Nationals, and Liberal Party.

25 June 2026

By agreeing that the schedules stand as printed, the Senate kept the core asset-tax reform measures in the bill.

Party Recorded votes Aye / No
Labor 22 / 0
Liberal 0 / 16
Greens 10 / 0
One Nation 0 / 4
Nationals 0 / 3
Independent 2 / 0
Liberal Party 0 / 1
UAP 0 / 1
Defeated

Senate voted on a proposed amendment

Aye 11 No 40

Defeated 11 to 40. Support came from Greens. Opposition came from Labor, Liberal, One Nation, and Nationals. Minor-party and independent votes were split.

25 June 2026

The proposed change was not agreed.

Party Recorded votes Aye / No
Labor 0 / 22
Greens 10 / 0
Liberal 0 / 9
One Nation 0 / 4
Independent 1 / 1
Nationals 0 / 2
Liberal Party 0 / 1
UAP 0 / 1
Carried

Restrict SMSF borrowing for property

Aye 33 No 26

Passed 33 to 26. Support came from Labor and Greens. Opposition came from Liberal, One Nation, Nationals, and Liberal Party. Minor-party and independent votes were split.

25 June 2026

The amendments were agreed to, adding a superannuation borrowing restriction to the bill package.

Party Recorded votes Aye / No
Labor 22 / 0
Liberal 0 / 16
Greens 10 / 0
One Nation 0 / 4
Nationals 0 / 3
Independent 1 / 1
Liberal Party 0 / 1
UAP 0 / 1
Defeated

Senate voted on a proposed amendment

Aye 26 No 33

Defeated 26 to 33. Support came from Liberal, One Nation, Nationals, and Liberal Party. Opposition came from Labor and Greens. Minor-party and independent votes were split.

25 June 2026

The proposed change was not agreed.

Party Recorded votes Aye / No
Labor 0 / 22
Liberal 16 / 0
Greens 0 / 10
One Nation 4 / 0
Nationals 3 / 0
Independent 1 / 1
Liberal Party 1 / 0
UAP 1 / 0
Defeated

Keep negative gearing for two homes

Aye 24 No 35

Defeated 24 to 35. Support came from Liberal, One Nation, Nationals, and Liberal Party. Opposition came from Labor, Greens, and minor parties and independents.

25 June 2026

The amendments were defeated, so the broader two-property carve-out was not added to the underlying proposal.

Party Recorded votes Aye / No
Labor 0 / 23
Liberal 15 / 0
Greens 0 / 10
One Nation 4 / 0
Nationals 3 / 0
Independent 0 / 2
Liberal Party 1 / 0
UAP 1 / 0
Defeated

Keep negative gearing for one home

Aye 26 No 33

Defeated 26 to 33. Support came from Liberal, One Nation, Nationals, and Liberal Party. Opposition came from Labor and Greens. Minor-party and independent votes were split.

25 June 2026

The amendment was defeated, so the final Senate bill did not include a one-home carve-out from the new negative gearingA tax setting where an investor can deduct rental property losses from other income; the wider package limits this for residential property to new builds. limits.

Party Recorded votes Aye / No
Labor 0 / 22
Liberal 16 / 0
Greens 0 / 10
One Nation 4 / 0
Nationals 3 / 0
Independent 1 / 1
Liberal Party 1 / 0
UAP 1 / 0
Defeated

Index income tax thresholds to inflation

Aye 26 No 34

Defeated 26 to 34. Support came from Liberal, One Nation, Nationals, and Liberal Party. Opposition came from Labor and Greens. Minor-party and independent votes were split.

25 June 2026

The requests were defeated, so the bill did not gain automatic annual CPIThe main official measure of inflation, used in proposed amendments to automatically adjust tax thresholds. indexationA method that increases an asset's cost base for inflation so tax is charged only on the gain above inflation. of tax brackets.

Party Recorded votes Aye / No
Labor 0 / 23
Liberal 16 / 0
Greens 0 / 10
One Nation 4 / 0
Nationals 3 / 0
Independent 1 / 1
Liberal Party 1 / 0
UAP 1 / 0
Defeated

Senate voted on a proposed amendment

Aye 26 No 34

Defeated 26 to 34. Support came from Liberal, One Nation, Nationals, and Liberal Party. Opposition came from Labor and Greens. Minor-party and independent votes were split.

25 June 2026

The proposed change was not agreed.

Party Recorded votes Aye / No
Labor 0 / 23
Liberal 16 / 0
Greens 0 / 10
One Nation 4 / 0
Nationals 3 / 0
Independent 1 / 1
Liberal Party 1 / 0
UAP 1 / 0
Defeated

Senate voted on a proposed amendment

Aye 26 No 33

Defeated 26 to 33. Support came from Liberal, One Nation, Nationals, and UAP. Opposition came from Labor and Greens. Minor-party and independent votes were split.

25 June 2026

The proposed change was not agreed.

Party Recorded votes Aye / No
Labor 0 / 22
Liberal 17 / 0
Greens 0 / 10
One Nation 4 / 0
Nationals 3 / 0
Independent 1 / 1
UAP 1 / 0

This list includes amendment votes, procedural votes and votes on the bill itself.

Parliamentary debate

Who spoke, and what they said

Start here — lead voices

Sponsor speech Supports

Jim Chalmers

Australian Labor Party • MP 28 May 2026

Jim Chalmers supports the bill and asks the House to pass it, saying he commends it and referring members to the explanatory memorandum for the details.

Read in Hansard ↗
Lead opposing voice Opposes

Angus Taylor

Liberal Party • MP 02 June 2026

Angus Taylor opposes the bill and says the coalition will not let it pass in its current form because it bundles tax cuts they support with what he calls harmful increases to capital gains taxTax on the profit someone makes when they sell an asset, such as property or shares, for more than it cost them. and negative gearingA tax setting where an investor can deduct rental property losses from other income; the wider package limits this for residential property to new builds..

Read in Hansard ↗
Lead supporting voice Supports

Helen Haines

Independent • MP 04 June 2026

Helen Haines backs the bill because she says reforming capital gains taxTax on the profit someone makes when they sell an asset, such as property or shares, for more than it cost them. and negative gearingA tax setting where an investor can deduct rental property losses from other income; the wider package limits this for residential property to new builds. is a serious step toward fairer housing and tax settings, while criticising the government for rushing tranche 1 and leaving small businesses and trust users with too much uncertainty.

Read in Hansard ↗
Lead non-major voice Opposes

Zali Steggall

Independent • MP 03 June 2026

Zali Steggall supports tax changes aimed at investment property, but opposes the bill in its current form because it also hits shares, startups, trusts and business assets without enough detail, modelling or scrutiny.

Read in Hansard ↗

All speeches by bloc

Labor

37 speakers · 40 contributions · 37 support

  1. Shayne Neumann Shayne Neumann strongly backs the bill, saying Labor's tax reforms will give workers tax relief, raise revenue more fairly and make it easier for young people and first home buyers to get into housing.
    “I'm pleased to support this real reform from a reforming Labor government. Through this legislation, the Albanese Labor government are delivering a new $250 tax cut for every worker because help with the cost of living is our No. 1 priority. Combined with our previous personal tax cuts, it means $2,800, on average, back in the pockets of Australians from 2027-28. We're helping more Australians realise their dream of homeownership and supporting investments in innovation through a significant tax reform package, the most significant one we've seen in a quarter of a century. This package is pro aspiration, it is pro jobs, it is pro worker and it is pro homeownership. It's about helping workers, first home buyers and businesses like those in my community so that more people can earn more, keep more of what they earn, get in the housing market and get ahead.”

    Australian Labor Party • MP • 02 June 2026

    Read the full speech in Hansard ↗
  2. Tom French Tom French supports the bill, saying it delivers tax cuts for workers, simplifies tax returns and helps first home buyers by steering tax incentives toward new housing rather than existing properties.
    “This bill will not solve every problem in the housing market or the tax system. No single bill could. But it makes a clear and necessary choice. It backs workers. It backs first home buyers. It backs new housing supply. It backs productive investment. It backs a fairer and simpler tax system. That is a fair choice, that is a Labor choice, and I commend the bill to the House.”

    Australian Labor Party • MP • 02 June 2026

    Read the full speech in Hansard ↗
  3. Louise Miller-Frost Louise Miller-Frost strongly supports the bill, arguing it will make the tax system fairer by cutting taxes for workers and changing capital gains taxTax on the profit someone makes when they sell an asset, such as property or shares, for more than it cost them. and negative gearingA tax setting where an investor can deduct rental property losses from other income; the wider package limits this for residential property to new builds. to improve housing affordability and help more people buy a home.
    “The government's changes to capital gains tax, negative gearing and the suite of tax cuts will mean that a fair go will no longer be the mirage of times gone past. It will be reality again—something to aspire to, something real and tangible to work towards—because Australia, if nothing else, is defined by the fair go, and who are we as a country if we're no longer able to meet that promise. I commend the bills to the House.”

    Australian Labor Party • MP • 02 June 2026

    Read the full speech in Hansard ↗
  4. Clare O'Neil Clare O'Neil says Labor strongly backs the bill because it gives tax cuts to workers and changes capital gains taxTax on the profit someone makes when they sell an asset, such as property or shares, for more than it cost them. and negative gearingA tax setting where an investor can deduct rental property losses from other income; the wider package limits this for residential property to new builds. to favour new housing and first home buyers over investors.
    “I'm really grateful for the chance to contribute to this debate, and I acknowledge other members who have had their say in the parliament. I'm really proud today to speak in support of the Treasury Laws Amendment (Tax Reform No. 1) Bill 2026 and the Income Tax Rates Amendment (Tax Reform No. 1) Bill 2026. This package of bills represents four of the key measures in the recent federal budget. The first is the working Australians tax offset, providing a new tax cut for every single one of Australia's 13 million workers. There are an instant tax deduction of $1,000, reforms to capital gains tax and reforms to limit negative gearing to new builds.”

    Australian Labor Party • MP • 03 June 2026

    Read the full speech in Hansard ↗
  5. Madonna Jarrett Madonna Jarrett strongly supports the bill, saying it will cut tax for working Australians, simplify deductions and make the tax system fairer by shifting benefits away from wealth and toward wages.
    “But the Albanese government is making some big changes. We've delivered tax cuts for all working Australians and we're now taking steps towards building a fairer economy, one where hard work is rewarded and where the dream of homeownership is not permanently pushed out of reach for our younger generation. Every Australian taxpayer will pay less, with the greatest proportional benefits flowing to low- and middle-income earners.”

    Australian Labor Party • MP • 02 June 2026

    Read the full speech in Hansard ↗
  6. Lisa Darmanin Lisa Darmanin strongly supports the bill, saying it will make the tax system fairer by reducing capital gains and negative gearingA tax setting where an investor can deduct rental property losses from other income; the wider package limits this for residential property to new builds. concessions that she argues fuel housing speculation and favour wealth over work.
    “We have a lot to be proud of as members of the Albanese Labor government, but this legislation is really one of those reforms I am so very proud to be speaking strongly in support of. This is what Labor does. This legislation is at the heart of what Labor stands for. This is ambitious reform, and ambition to achieve fairness is not something to be shied away from. Labor has never been a party that believes that the status quo should be preserved simply because reform is difficult. The values that drive our party remain today and fuel our courage to achieve reform.”

    Australian Labor Party • Senator • 22 June 2026

    Read the full speech in Hansard ↗
  7. Carol Berry Carol Berry supports the bill and says its 30 per cent minimum tax on capital gainsThe new rule that makes resident individuals pay at least 30 per cent tax on their capital gains unless an exemption applies. is a fairer reform that will curb tax advantages in the housing market while still protecting pensioners, JobSeeker recipients and small business concessions.
    “A key change is that the introduction of the minimum tax reduces the benefit for taxpayers who defer capital gains realisation to years in which their marginal tax rates are low. It ensures their gains are subject to a tax rate closer to the rate that applied to them during their working life. Importantly, recipients of certain government payments, including the aged pension and JobSeeker, will be exempted from the minimum tax if they receive any of these payments in the financial year in which they realise the capital gain. In line with our goal of supporting new housing supply, investors who buy new builds will be able to choose either the 50 per cent CGT discount or indexation and the minimum tax when they sell their property. The existing CGT discount of up to 60 per cent that applies to qualifying affordable housing will also be fully retained to preserve incentives to invest in those assets. I want to stress that the four existing small business CGT concessions will remain in place, allowing eligible small businesses to reduce or remove tax on any gains when they sell.”

    Australian Labor Party • MP • 02 June 2026

    Read the full speech in Hansard ↗
  8. Kara Cook Kara Cook strongly backs the bill, saying it delivers permanent tax relief and simpler tax returns for workers while also reshaping housing tax settings to support new home construction and improve affordability.
    “These bills have three clear objectives: to deliver more tax relief for Australian workers, to make it easier for people to buy their first home and to better balance the way our tax system treats income earnt through work and income earnt through assets. It does this through four key reforms. There's a new $250 working Australians tax offset for more than 13 million Australians, and a $1,000 instant tax deduction to make tax time simpler and put more money back in workers' pockets because Labor wants you to earn more and keep more of what you earn. It also reforms future negative-gearing arrangements so they better support new housing supply from 1 July 2027, and it makes changes to capital gains tax that restore its original purpose, ensuring that Australians are taxed only on real gains rather than on both the real and inflation driven gains.”

    Australian Labor Party • MP • 02 June 2026

    Read the full speech in Hansard ↗
  9. Deborah O'Neill O'Neill strongly backs the bill as part of Labor's tax reforms, saying it will give workers tax relief and make the tax system fairer by shifting the balance toward people who earn income from work.
    “I will note that, in that blast of negativity, Senator Hume actually did say in one of those sentences, 'We will support the $1,000 instant tax deduction.' You had to listen really carefully to hear it. The way she's tried to construct it, you'd think there was absolutely nothing in this for Australians—but there is. For 13 million Australians, there is a tax cut. That is what this legislation is going to deliver.”

    Australian Labor Party • Senator • 22 June 2026

    Read the full speech in Hansard ↗
  10. Matt Gregg Matt Gregg supports the bill, arguing it will make the tax system fairer and more productive by helping more people into home ownership, backing working Australians with tax relief and reducing distortions that favour existing asset owners.
    “The reason I support these reforms is not that I oppose investment success or wealth creation—quite the opposite. I want young Australians to believe that, if they study hard, work hard, save diligently and make responsible decisions, they can still buy a home, raise a family and build a secure future. That's what aspiration means to me. And, if we're honest with ourselves, that aspiration is becoming harder for too many Australians. The question before us is not whether Australians should be encouraged to invest, build wealth or start a business. They absolutely should. The question is whether every aspect of the current system continues to serve that purpose.”

    Australian Labor Party • MP • 03 June 2026

    Read the full speech in Hansard ↗
  11. Katy Gallagher 2 contributions Katy Gallagher supports the bill and moves the package for a second reading, but the supplied extract does not include any substantive paragraph specifically explaining this bill.

    Hansard records 2 separate contributions by Katy Gallagher, including an amendment-moving contribution. They are grouped here so the speaker is listed once.

    Moved amendment Australian Labor Party • Senator • 22 June 2026

    Katy Gallagher supports the bill and moves the package for a second reading, but the supplied extract does not include any substantive paragraph specifically explaining this bill. The available text only clearly shows that she wants the bills to pass.

    “That these bills be now read a second time.”
    Read this contribution in Hansard ↗

    Second reading speech Australian Labor Party • Senator • 24 June 2026

    Katy Gallagher strongly supports the bill, saying it is a key part of the government's tax reforms to replace the capital gains taxTax on the profit someone makes when they sell an asset, such as property or shares, for more than it cost them. discount with fairer settings and reduce housing tax breaks that skew investment toward existing homes. She argues the changes will help first home buyers, improve productivity and make the tax system fairer while still supporting new housing supply.

    “Schedule 1 to the bill and the Income Tax Rates Amendment (Tax Reform No. 1) Bill 2026 implement significant reforms to capital gains tax arrangements. These reforms replace the 50 per cent CGT discount for individuals, trusts and partnerships with a cost based indexation and a 30 per cent minimum tax rate on capital gains accruing from 1 July 2027. The 50 per cent discount is an arbitrary adjustment for inflation, overcompensating some investors while undercompensating others. Since it was introduced, it has distorted investment decisions, particularly in favour of existing housing, and the greatest share of the benefit has flowed to those who earned the most over their lifetime. At the same time, homeownership has been pushed further and further out of reach, particularly for younger Australians. These reforms will correct the mistake made by the Howard government, ensuring investment decisions are made on the basis of economic returns, not tax advantages, which will support productivity over time. The introduction of the minimum tax also addresses distortion in the system by reducing the incentive to defer realisation of capital gains, ensuring gains are subject to a tax rate closer to the rate paid by most workers. To maintain support for new housing supply, investors who buy new builds will be able to choose either the 50 per cent CGT discount or indexation and the minimum tax when they sell the property.”
    Read this contribution in Hansard ↗
  12. Corinne Mulholland Corinne Mulholland supports the bill, saying it delivers tax cuts for working Australians through lower income tax and a permanent tax offset, while attacking the opposition for voting against relief she says will especially help ordinary workers and younger people.
    “This bill cuts taxes for working Australians. We have already legislated a reduction in the lowest marginal tax rate, from 16c in the dollar down to 15c and then down to 14c. That is real money every year in the pocket of every working Australian. This bill delivers more today: a new tax offset for working Australians, a permanent annual tax offset for every eligible worker in Australia. Why would you vote against that? This is a $1,000 instant tax deduction—no receipts, no paperwork, no issue. Around 6.2 million Australians will benefit. Why would you vote against that? More than a quarter of the people who will benefit from that are under 30, and more than half of them are women. Add it all up. A worker on average earnings will be up to $2,816 a year better off from 2027-28 compared to where we started. This is a Labor government delivering for working people who earn their money through a wage, not a property dividend. This is not a one-off sugar hit; it is established permanently and structurally for future generations. I would like to remind the Liberals and One Nation that they're the people that you are supposed to be standing up for—working Australians. We are meant to be acting in the interests of Australia's future and the working people who are building this nation. They need someone on their side, and that's exactly what Labor is doing while those opposite are acting with shameless self-interest—the same self-interest that got Australia into this mess, driving rents up and putting homeownership out of reach, perhaps for good.”

    Australian Labor Party • Senator • 24 June 2026

    Read the full speech in Hansard ↗
  13. Rowan Holzberger Rowan Holzberger supports the bill and wants it passed, arguing it will help workers keep more of their pay while backing Labor's broader housing plan by reducing tax settings that favour property investors over home buyers.
    “I rise in support of the Treasury Laws Amendment (Tax Reform No. 1) Bill 2026—which I learned today is affectionately known as TLAB—and the Income Tax Rates Amendment (Tax Reform No. 1) Bill 2026. In doing so, I acknowledge the work of my neighbour the Treasurer, the member for Rankin, who has led the Labor government's economic team to deliver a truly Labor budget and a budget which is aimed well and truly at the people that that the Treasurer and I represent in Logan and the people that that you represent as well, Deputy Speaker Claydon. It is a budget which speaks absolutely to the aspiration of working-class people, who have for too long seen their wages go backwards, their taxes go up, and the great Australian dream of owning their own home disappear under, effectively, 30 years of coalition government.”

    Australian Labor Party • MP • 02 June 2026

    Read the full speech in Hansard ↗
  14. Lisa Chesters Lisa Chesters backs the bill and urges the opposition to support it, arguing it will give tax relief to workers while making the tax system fairer for first home buyers by winding back concessions that favour existing property investors.
    “I encourage those opposite to rethink their opposition to this and to join Labor in correcting the problem that was created by a previous generation of politicians. I encourage them to support the introduction of the $250 working Australian tax offset and to support our lowest income earners to receive a little bit of offset. For those who dismiss it, for someone in my electorate, that's their kid's school fees for a primary school. It could go towards swimming lessons. It knocks out one of those bills that they're struggling to pay. $250 can go a long way for a family on a small income. This will benefit 13.3 million Australians and disproportionately more women, because women earn lower incomes, and people living in regional areas who are also on low incomes. This is on top of the other tax cuts that we've already legislated. Combined, the average worker will be just under $3,000 a year better off by 2028, because of our Labor government and the changes. That $3,000 by 2028—it should be noted—has been opposed by the Liberals and Nationals every step of the way. This is real money back into the pockets of working Australians to help them pay bills. This is real cost-of-living relief to those who need it most.”

    Australian Labor Party • MP • 02 June 2026

    Read the full speech in Hansard ↗
  15. Alicia Payne Alicia Payne strongly backs the bill, saying it delivers tax cuts and simpler deductions for workers while changing capital gains taxTax on the profit someone makes when they sell an asset, such as property or shares, for more than it cost them. and negative gearingA tax setting where an investor can deduct rental property losses from other income; the wider package limits this for residential property to new builds. to improve housing affordability and help more first home buyers.
    “I'm proud to rise in support of this landmark legislation that delivers the most significant overhaul of Australia's tax system in a quarter of a century—and a much-needed one. For my community of Canberra, the Treasury Laws Amendment (Tax Reform No. 1) Bill 2026 is genuinely transformative, particularly for first home buyers. It's making our tax system work for the Australian public.”

    Australian Labor Party • MP • 02 June 2026

    Read the full speech in Hansard ↗
  16. Michelle Ananda-Rajah Michelle Ananda-Rajah supports the bill, arguing it delivers another tax cut for working Australians as part of Labor's wider tax reform and cost-of-living agenda.
    “In addition, we have established a new tax cut for all working Australians. It's called the working Australian tax offset. It means that around 14 million working Australians will receive an additional $250 in their pocket. That's on top of a $1,000 tax deduction, with no receipts needed. and five tax cuts in total, which means that the average worker is now $2,800 better off. Labor is the party of lower taxes.”

    Australian Labor Party • Senator • 24 June 2026

    Read the full speech in Hansard ↗
  17. Jo Briskey Jo Briskey supports the bill and urges it to pass, saying it will rebalance tax settings to help more people buy homes while giving workers additional tax cuts.
    “I know there are many in my community who have started to wonder whether the Aussie dream, which their parents fulfilled, has expired before their turn has come. Our government believes it hasn't. We have not given up on you, and, with these bills, we are proving that today. We are levelling the playing field for all Australians wanting to get ahead. We're giving Australians who thought they'd never have the chance to own their own home a fair crack. We're delivering more tax cuts for every worker. There are some who'd rather protect the status quo and stand in the way of aspiration. We won't. We're building a country where effort is rewarded and everyone gets a fair go. I commend the bills to the House.”

    Australian Labor Party • MP • 02 June 2026

    Read the full speech in Hansard ↗
  18. Jerome Laxale Jerome Laxale supports the bill and says it should pass because it reforms negative gearingA tax setting where an investor can deduct rental property losses from other income; the wider package limits this for residential property to new builds. and capital gains taxTax on the profit someone makes when they sell an asset, such as property or shares, for more than it cost them. to make housing fairer and help more first home buyers into the market.
    “We know that there are many factors driving up prices in the Australian housing market, but we also know that the status quo cannot remain. This is what just shocks me about the response from the opposition, where they've openly said they're going to vote down this important bill, which includes tax cuts and helping people to get into their first home. We know that the status quo isn't working. It's not working for productivity. It's not working to get more people into homes. It's not working for working Australians, who bear the burden of the tax take of the Commonwealth. These reforms will give 75,000 first home buyers their entry into owning their own home and will help reverse a decade of decline in homeownership rates. Other reforms will balance the burden currently on the back of Australian wage earners across the country.”

    Australian Labor Party • MP • 03 June 2026

    Read the full speech in Hansard ↗
  19. Matt Smith Matt Smith strongly supports the bill, saying Labor's tax cuts will let more than 13 million workers keep more of what they earn and help them cope with costs, especially housing.
    “But there's more than that. We're reducing the tax burden for more than 13 million workers. That's five tax cuts that this Anthony Albanese Labor government has put in—five, not just a slightly-above-mediocre boy band from the early 2000s but a ringing endorsement of the faith we have in Australian workers that they deserve to keep more of what they earn in their pocket to be what they want to be, to spend how they want to spend. And they want to spend on housing. That is overwhelmingly what we're told, every single day, at every doorknock, at every phone bank, in every community office. And I know I'm not speaking just for myself but for right across the country: 'You've got to do something about the housing. I'm concerned about my children. I'm concerned about my grandchildren. It doesn't seem fair. How are they ever going to get their foot in the door?'”

    Australian Labor Party • MP • 02 June 2026

    Read the full speech in Hansard ↗
  20. Josh Burns 2 contributions Josh Burns supports the bill, saying it is part of a major tax reform package that will make the system fairer for working Australians by giving them a new tax offset and an instant deduction while reducing overreliance on income tax.

    Hansard records 2 separate contributions by Josh Burns on this bill. They are grouped here so the speaker is listed once.

    Second reading speech Australian Labor Party • MP • 03 June 2026

    Josh Burns supports the bill, saying it is part of a major tax reform package that will make the system fairer for working Australians by giving them a new tax offset and an instant deduction while reducing overreliance on income tax. He argues these changes are important for the budget and for future generations.

    “These bills are the most significant reforms to taxation that I have been a part of in this place. They are an important set of reforms that will set up our country and the budget for future generations. It will focus primarily on four key things: it will restore the original intent of the capital gains tax concession, it will overhaul the negative gearing regime, it introduces a new $250 working Australian tax offset, and it creates a new $1,000 instant tax deduction.”
    Read this contribution in Hansard ↗

    Second reading speech Australian Labor Party • MP • 03 June 2026

    Josh Burns supports the bill, saying it will make the tax system fairer and more appropriate and reduce the growing tax burden on hardworking Australians.

    “The Treasury Laws Amendment (Tax Reform No. 1) Bill 2026 and the Income Tax Rates Amendment (Tax Reform No. 1) Bill 2026 are significant. They mark the moment when this House will make a determination on the way in which our government collects revenue and the way in which we set up our tax system into the future for future generations. The changes that we are discussing as part of these bills are some of the most important considerations that this House has made in my time here as a member of parliament, and I am proud to support these bills, which will set up our tax system and our revenue collection for future generations—to make it fairer, to make it more appropriate and to make sure that hardworking Australians are not left with the growing burden of our tax revenue.”
    Read this contribution in Hansard ↗
  21. Anthony Albanese Albanese strongly backs the bill, saying Labor will vote for it because it delivers more income tax cuts and other tax relief for working Australians as part of a broader effort to make the tax system fairer and support home ownership.
    “Four weeks from now, on 1 July, every single Australian taxpayer will receive a tax cut. That will be the second round of tax cuts delivered by our Labor government, with a third round on the way for every taxpayer on 1 July next year. And we're not stopping there. This legislation delivers two more reductions in income tax—a total of five tax cuts for working Australians under our government, delivering a total saving of over $2,800 for average workers. It's fitting that we're legislating for these new tax cuts in a week that confirmed five consecutive increases in the minimum wage, every single one of them backed by our government with submissions to the Fair Work Commission.”

    Australian Labor Party • MP • 03 June 2026

    Read the full speech in Hansard ↗
  22. Matt Burnell Matt Burnell supports the bill because he says it will give tax relief to more than 13 million workers and is part of a broader effort to make the tax system fairer, simpler and more effective.
    “This budget responds directly to those challenges. More than 13 million workers will receive tax relief, businesses and startups will benefit from measures worth $3.5 billion, and compliance costs across the economy will fall by approximately $540 million every year, whilst more homes will be delivered for more Australians. These are not isolated changes operating in different directions. Together they form a coherent package designed to make the tax system simpler, fairer and more effective.”

    Australian Labor Party • MP • 03 June 2026

    Read the full speech in Hansard ↗
  23. Sharon Claydon 2 contributions Sharon Claydon strongly backs the bill, saying it should pass because it gives workers tax relief, simplifies deductions and makes housing tax settings fairer by shifting support away from investors in existing homes and towards first home buyers and new housing supply.

    Hansard records 2 separate contributions by Sharon Claydon on this bill. They are grouped here so the speaker is listed once.

    Second reading speech Australian Labor Party • MP • 03 June 2026

    Sharon Claydon strongly backs the bill, saying it should pass because it gives workers tax relief, simplifies deductions and makes housing tax settings fairer by shifting support away from investors in existing homes and towards first home buyers and new housing supply.

    “This bill cuts taxes for workers. It simplifies tax time. It helps first home buyers. It makes our tax system fairer. And it takes an important step towards restoring the Australian dream of homeownership and providing a fair go. I commend the bill, unamended, to the House.”
    Read this contribution in Hansard ↗

    Second reading speech Australian Labor Party • MP • 03 June 2026

    Claydon's position is not stated in the excerpt, but her recorded aye vote at second reading indicates she supported the bill. The only supplied text is procedural and does not give her reasons.

    “Member for Macnamara, apologies. I'm going to interrupt you so that I can make clear the question that you're speaking to. I promise I will not swallow up your time. The original question is that this bill be now read a second time. To this the honourable member for Hume moved as an amendment that all words after 'That' be omitted with a view to substituting other words and the honourable member for Curtin moved as an amendment to that amendment that all words after 'House' be omitted with a view to substituting other words. So the question before the House is that the amendment moved by the honourable member for Curtin to the amendment moved by the honourable member for Hume be agreed to. I will enable the member for Macnamara to start his speech again, from the top.”
    Read this contribution in Hansard ↗
  24. Libby Coker Libby Coker strongly supports the bill, saying it delivers tax relief for workers, simplifies deductions and changes property tax concessions to improve housing affordability and intergenerational fairness.
    “This bill recognises that housing affordability matters. It recognises that workers deserve a tax system that supports them. And it recognises that intergenerational fairness should not be simply discussed; it should be acted upon. For too long, too many younger Australians have felt that the pathway to homeownership has become increasingly difficult. For too long, the tax system has not always reflected the balance we need between rewarding work and rewarding investment. This bill builds on our work to address those challenges through careful, considered reform—reform that cuts taxes for workers, reform that supports first business owners, reform that encourages investment in new housing supply and reform that helps ensure that the opportunities Australians value today remain available to the generations that will follow.”

    Australian Labor Party • MP • 03 June 2026

    Read the full speech in Hansard ↗
  25. Alice Jordan-Baird Alice Jordan-Baird supports the bill, saying Labor's income tax cuts will ease cost-of-living pressure and let working Australians, especially younger people, keep more of what they earn.
    “Part of our budget's major changes are our tax cuts. To help with the cost of living, we're delivering more tax cuts from 1 July this year for every Australian taxpayer. We're delivering an extra $250 off working Australians' tax bills permanently, and we're delivering a $1,000 instant tax deduction without receipts. The $250 working Australians tax offset will provide a tax cut for the 13.3 million Australians who receive income from work. It will increase the effective tax-free threshold for workers by $1,785. All of this means that the average worker will benefit by up to $3,000. We're recognising that for more Aussies, especially young people, income comes from work, and our tax system should reflect that. Our tax cuts are deliberately designed to support younger Australians, with millennials and Gen Z expected to make up around two-thirds of the beneficiaries. We're backing the next generation of Aussies with practical reforms, making sure that you can keep more of what you earn and are supported in getting ahead.”

    Australian Labor Party • MP • 03 June 2026

    Read the full speech in Hansard ↗
  26. Tania Lawrence Tania Lawrence supports the bill as part of Labor's budget package, saying it responds to global pressure with fair and responsible reform and will help households through stronger health, housing and education measures.
    “This is not a budget that chooses the easy path. As the Treasurer put it, it is about choosing the hard road of reforms while supporting Australians through difficult times. I commend the bill to the House.”

    Australian Labor Party • MP • 03 June 2026

    Read the full speech in Hansard ↗
  27. Ash Ambihaipahar Ash Ambihaipahar supports the bill, arguing it will make the tax system fairer and simpler by giving workers tax relief, encouraging investment in new housing and reducing distortions that worsen housing affordability.
    “I rise today in support of these tax reforms and in support of something that Australians have been crying out for many years for: a tax system that is fairer and simpler and that better reflects the reality of modern life. When Australians talk to me, they talk about trying to save for a first home. They talk about juggling the rising costs. They talk about wanting to get ahead with hard work, and they talk about wanting a system that rewards effort. At its core, that is what this package is about. It's about making our economy work for more Australians. It is about ensuring that aspiration is rewarded. It is about helping young Australians believe that homeownership is still within their reach, and it's about ensuring that our tax system encourages productive investment rather than simply rewarding those who are best able to navigate a complicated set of rules.”

    Australian Labor Party • MP • 03 June 2026

    Read the full speech in Hansard ↗
  28. Trish Cook Trish Cook supports the bill, arguing it delivers permanent tax relief for workers, reforms negative gearingA tax setting where an investor can deduct rental property losses from other income; the wider package limits this for residential property to new builds. and capital gains taxTax on the profit someone makes when they sell an asset, such as property or shares, for more than it cost them. to improve housing affordability, and simplifies the tax system while supporting investment and budget sustainability.
    “This legislation represents meaningful reform. It delivers tax relief to millions of workers. It supports more Australians into homeownership. It encourages investment where it is most needed. And it simplifies the tax system and reduces compliance costs. It does all this while strengthening the sustainability of our budget and economy. This is what responsible government looks like. This is what reform in the national interest looks like. These reforms are the reforms that make our economy work better for more Australians. I commend this bill to the House.”

    Australian Labor Party • MP • 02 June 2026

    Read the full speech in Hansard ↗
  29. Gabriel Ng Gabriel Ng supports the bill and says it is part of a broader tax reform that will cut tax for workers and make home ownership more achievable by changing investor tax breaks.
    “This legislation, as I said, is built on a simple principle: a tax system should work in the interests of hardworking Australians, not just those who have already accrued wealth. Those opposite have pledged to repeal this entire package. Let me be clear about what this means. It means keeping distortions that have priced a generation out of the housing market. It means protecting a system that delivered 400 per cent growth in housing unaffordability. That's not a plan; that's a promise to protect a broken status quo. My dad came here with nothing. My mum worked hard. They didn't have intergenerational wealth, but they were able to buy their first home. That should be possible for all Australians, including the young people in my community today. This government is making sure that that remains the case, and I commend this bill to the House.”

    Australian Labor Party • MP • 03 June 2026

    Read the full speech in Hansard ↗
  30. Susan Templeman Susan Templeman strongly backs the bill, arguing it will make housing more affordable for first home buyers by curbing tax breaks that favour existing investors and will also deliver tax cuts to workers.
    “If the opposition votes against this bill, that's what they're voting against: allowing more young people to get into housing at a reasonable age so that they have a chance of having it paid off by retirement. They're also voting against a tax cut for every working Australian, because the other key feature of this bill is its tax cut. From this next financial year, there's the new instant tax deduction of up to $1,000 every year, which will simplify work related expense deductions, delivering 6.2 million workers an average benefit of an extra $205 in that year. And I should point out that if you want to claim charitable donations, union and professional association membership fees, or other deductions they can still be claimed on top of the instant tax deduction. That's about making things simpler and fairer.”

    Australian Labor Party • MP • 03 June 2026

    Read the full speech in Hansard ↗
  31. Charlotte Walker Charlotte Walker supports the bill, arguing it cuts taxes for workers, simplifies tax returns and reshapes property tax concessions to help more first home buyers and improve housing fairness.
    “This debate ultimately comes down to a simple question: who are we building Australia's future for? Are we building it for those who already have the most assets, or are we building it for the next generation of Australians who are trying to get ahead? This government has made its choice. We are backing workers. We are backing aspiration. We are backing homeownership, and we are backing young Australians, because every generation deserves the opportunity to own a home, every generation deserves the opportunity to build wealth through their own hard work, and every generation deserves a government willing to take difficult decisions in the national interest. This legislation delivers tax relief for workers. It makes tax time simpler. It supports homeownership, and it helps create a fairer Australia. For those reasons, I proudly support this bill and commend it to the Senate.”

    Australian Labor Party • Senator • 22 June 2026

    Read the full speech in Hansard ↗
  32. Julie-Ann Campbell Campbell supports the bill, saying it will make the tax system fairer and help more Australians into homeownership by steering investment toward new housing and giving workers tax relief.
    “These reforms are designed to create a tax system that is more efficient, more equitable and easier to navigate, because, when a taxation system means that a nurse working shift work, a copper on the beat or a person looking after our youngest or our oldest Australians is paying more tax on their wages earned than someone earning from assets, it means the system is broken. This government and these bills are here to fix it.”

    Australian Labor Party • MP • 03 June 2026

    Read the full speech in Hansard ↗
  33. Zhi Soon Zhi Soon supports the bill, saying it is a major tax reform that cuts tax for workers, shifts concessions away from existing property investment and towards housing supply, and makes the tax system fairer as the population ages.
    “In conclusion, this legislation confronts a generational change and a challenge. It corrects some of the imbalances in our housing market while protecting people who have made major decisions under the existing rules. Most importantly, it fronts up to the challenge that our changing and ageing demography presents us. Since the budget, I have received feedback from members of the community in my electorate of Banks, and I've endeavoured to speak directly to as many of these constituents as possible. Like any reforming policy, these changes have garnered considerable debate. This legislation is about recalibrating investment and supporting aspiration. It is saying that income from labour and income from assets should be taxed fairly, and it is saying to first home buyers and young Australians across our country, as well as renters, that their aspiration to own their own home is still worth having and that we will support you in that ambition.”

    Australian Labor Party • MP • 03 June 2026

    Read the full speech in Hansard ↗
  34. Claire Clutterham Claire Clutterham appears supportive of tax reform in the budget, but this speech excerpt is about a different bill, so it does not clearly state her position on the Income Tax Rates Amendment bill itself.
    “I rise today to speak in support of the Treasury Laws Amendment (Tax Reform No. 1) Bill 2026. The most common refrain that I have heard in my 13 months of being the member for Sturt and engaging my community is this. People say: 'Claire, you've got a majority. When are you going to do something with it?' And, by 'something', people don't mean just delivering the government's agenda. They mean doing something bold, like designing and implementing big and overdue reform. They say to me, 'If you won't do it now, you'll never do it.' They repeatedly ask, 'When are you going to do something?'”

    Australian Labor Party • MP • 03 June 2026

    Read the full speech in Hansard ↗
  35. Zaneta Mascarenhas Zaneta Mascarenhas strongly supports the bill, saying it will make the tax system fairer by giving workers tax relief, reducing the advantage of asset income over wages and helping first home buyers.
    “This bill introduces tax reforms that rebalance the system, reforms that back the workers, the first home buyers and the generation coming up. This bill is the start of the most significant tax reform this country has seen in 25 years. It does three things: it puts money in the back pockets of every Australian worker, it opens the door wider for first home buyers and it stops the tax system rewarding asset income over wages. We are the government that believes that Australians should earn more and keep more of what they earn, as opposed to the coalition, who will vote against tax cuts this week. We do not believe that a worker should pay more tax than an investor. Income earned through hard work should not be taxed more heavily than income earned by holding an asset. That's not fairness. It's not productive either. That is the system that this bill begins to set right.”

    Australian Labor Party • MP • 03 June 2026

    Read the full speech in Hansard ↗
  36. Carol Brown Carol Brown supports the bill and says it will cut tax for workers, simplify deductions and redirect housing tax breaks toward new builds to make home ownership fairer for younger Australians.
    “I rise to support the Treasury Laws Amendment (Tax Reform No. 1) Bill 2026 and the Income Tax Rates Amendment (Tax Reform No. 1) Bill 2026. As a Labor Senator for Tasmania, I judge reform by a simple test: does it make life fairer for working people in my home state? These bills do. They help people keep more of what they earn and give more Australians a fair chance to own a home. Leaving everything as it is would be the easiest political choice. But the current system is not working for too many Australians, especially younger Australians. Doing nothing would pass the problem on to the next generation.”

    Australian Labor Party • Senator • 22 June 2026

    Read the full speech in Hansard ↗
  37. Jim Chalmers ★ Jim Chalmers supports the bill and asks the House to pass it, saying he commends it and referring members to the explanatory memorandum for the details.
    “In thanking my colleagues who are here and for all of the reasons that I have just outlined, I commend this bill to the House as well. Full details of the measure are contained in the explanatory memorandum.”

    Australian Labor Party • MP • 28 May 2026

    Read the full speech in Hansard ↗

Coalition

46 speakers · 48 contributions · 1 support · 44 oppose · 1 unclear

  1. Angus Taylor ★ Angus Taylor opposes the bill and says the coalition will not let it pass in its current form because it bundles tax cuts they support with what he calls harmful increases to capital gains taxTax on the profit someone makes when they sell an asset, such as property or shares, for more than it cost them. and negative gearingA tax setting where an investor can deduct rental property losses from other income; the wider package limits this for residential property to new builds..
    “Our resolve is clear. Labor's toxic taxes need to be axed. That's why we don't support Labor's legislation. We have proposed amendments. I'll come back to those. And should these toxic taxes pass the parliament with support from the Greens and Independents, our resolve is also clear. A coalition government under my leadership will repeal these toxic taxes with immediate effect.”

    Liberal Party • MP • 02 June 2026

    Read the full speech in Hansard ↗
  2. Darren Chester Darren Chester says the coalition will oppose the bill because he argues Labor broke its election promises, bundled together measures the coalition cannot accept, and will hurt farmers, small businesses and people trying to build wealth.
    “Our farmers are world class for a good reason. They're world class at managing risk. They can manage the risk of seasonal conditions. They can manage the risk of commodity prices. More recently, they've had to manage the risk of fuel and fertiliser price increases. But how does any farming family manage the risk of a lying Labor Party? How is it possible to manage that risk? The coalition will oppose these bills, and the coalition will fight for small-business owners, for our farming families and for everyday Australians who are trying to get ahead through their own hard work and through preparing for their own retirement. What we will never do is go to an election based on a fundamental deceit and trickery, like this prime minister has done. Australia is worth fighting for, and we are up for the challenge. If you believe in these policies, take them to election and give the Australian people a chance to vote.”

    National Party • MP • 03 June 2026

    Read the full speech in Hansard ↗
  3. Zoe McKenzie Zoe McKenzie says the coalition will not back the bill as presented, arguing it mixes some tax relief with larger tax increases on capital gains, small business and older Australians' private health cover.
    “What makes this budget particularly frustrating is that these measures are entirely unnecessary. Australians were promised no new taxes. The coalition has made its position very clear. We support tax relief for working Australians, we support the working Australians tax offset and we support genuine cost-of-living relief. But we do not support Labor's tax hikes on capital gains, negative gearing, housing trusts and small businesses. We do not support the abolition of the additional rebate offered to seniors over 65 who have taken out private health insurance. We have moved amendments to remove Labor's capital gains tax and negative gearing changes entirely while allowing tax relief measures to proceed. In other words, Australians can and should have the tax cuts without the tax hikes. Labor simply refuses to allow it.”

    Liberal Party • MP • 03 June 2026

    Read the full speech in Hansard ↗
  4. Matthew Canavan Matthew Canavan opposes the bill, arguing it is part of a wider package of higher taxes that the government did not take to the election and that will hurt investment, small business and an already weak economy.
    “Why is the government getting away with this? What has happened? We've ended JobKeeper and ended all this. 'We had to help people out during COVID.' We ended all those schemes, and then the government used the excuse to go to another level and waste more of your money. Now they're coming to you and wanting more of that money from your super, from your property investments, from the small businesses and farmers in this country. They're saying, 'We need more money to waste here in this place.' How about, before we introduce new taxes, we cut our own spending first? How about we take care of our own house first before we go and raid other people's houses? We've got it the wrong way around right now. Because this government doesn't want to make the tough decisions to restrain spending to cut back on waste in this place, they are simply going to raid the piggybanks of other people all around our country. And worse, they didn't even ask those people about those changes first. A basic right of British peoples that our country inherited is that taxation should not be imposed on you without your consent. People fought wars for that, right? We're about to celebrate one of those wars next week on 4 July—250 years. They fought that to make sure they could have no taxation without representation. Well, now in this place if this gets rammed through today, we will have taxation on the Australian people, massive taxation, without any representation, without any consent from the Australian people. If the government had any guts, they would take these proposals back to the people. They ran them through this place without their consent. Have the ticker to go before the people and argue for why you think this is the best thing for the Australian economy, and only then should the Australian people face a higher tax bill. Only if they agree to it, should they. (Time expired)”

    Liberal National Party • Senator • 24 June 2026

    Read the full speech in Hansard ↗
  5. Tim Wilson Tim Wilson says the coalition will vote against the bill overall because it bundles measures they oppose with measures they support.
    “There are four sections of this budget. The first one is the betrayal on capital gains tax. The second one is the betrayal on negative gearing. The third one is on the working Australians tax offset, and the fourth one is focused on their standard deduction for work related expenses. We absolutely oppose schedules 1 and 2, and we absolutely support schedules 3 and 4. But, of course, in their tricky, meanspirited way, just as they did before the last election, they're tying the two bits of the bill together to try and justify why they should be able to get away with it.”

    Liberal Party • MP • 02 June 2026

    Read the full speech in Hansard ↗
  6. Ross Cadell Ross Cadell says the coalition will oppose the bill because he sees it as a large tax increase that will hurt investors, small businesses and younger Australians trying to save, while doing nothing credible to fix housing supply.
    “In summary, just in governance—forget the methodology—none of their arguments hold up. It doesn't hold up when the Treasury documents say it will result in less housing. It doesn't hold up under any investment period as generational equity. We have diminished all of the democracy in Australia by doing this. Australians deserve better, and we will vote against this.”

    National Party • Senator • 23 June 2026

    Read the full speech in Hansard ↗
  7. Aaron Violi Aaron Violi opposes the bill, arguing the government's tax changes are a broken promise that will raise taxes, worsen housing supply and hurt small businesses and startups rather than help younger Australians.
    “But let's be very clear to start with. This legislation is built on broken promises. The Prime Minister, the Treasurer and every member opposite promised their communities repeatedly that they would not change capital gains tax and they would not change negative gearing. They've all broken faith with their communities. It means that, going forward, it doesn't matter what they say. It's irrelevant, because no-one can trust any word that comes out of the mouth of any government minister or any backbencher. And that's the reality that they have to live with. It's interesting that they've decided, at a time where there is distrust in the political system, that the best way to earn trust is to break trust. But that, again, is a decision that they will all have to live with because the reality is these changes aren't actually about making housing easier. They are not about intergenerational equity or fairness. As I said, they will actually make the situation worse for young people.”

    Liberal Party • MP • 02 June 2026

    Read the full speech in Hansard ↗
  8. Simon Kennedy Simon Kennedy opposes the bill, saying it is a tax increase disguised as fairness that breaks election promises and will hurt retirees, investors and younger people trying to save for housing.
    “You don't fix a housing crisis by building fewer homes—35,000 fewer, from Labor's own budget papers. You don't help renters by driving investors out of the rental market. Your own budget papers' analysis shows rents will go up. You don't help first home buyers by increasing rents on one side and taxing their invested deposits with new CGT on the other. This bill is being sold as fairness, but it's about betrayal. Before a young Australian buys their first home, they usually rent. If rents rise, it becomes harder to save. If their savings and investments are taxed harder—with, in some cases, CGT doubling—it becomes harder again to get that deposit. Labor's kneecapping younger Australians twice—once as renters and then as they save for their deposit. And then Labor has the audacity to tell this country and these young people it's about intergenerational fairness. It's not intergenerational fairness; it's intergenerational fraud. This doesn't help young people. Income tax is higher for them than it ever was for me, thanks to Labor's sneaky bracket creep. CGT is up, housing taxes are up and car taxes are up.”

    Liberal Party • MP • 02 June 2026

    Read the full speech in Hansard ↗
  9. Jane Hume Jane Hume says the Coalition opposes the bill and wants the Senate to reject it because it raises taxes in a way she argues will cut housing supply, discourage investment and break Labor's election promises.
    “The coalition supports genuine tax reform, lower taxes, simpler taxes, fairer taxes and measures that encourage Australians to work, to save, to invest and to build. That's why we support the working Australians tax offset. That's why we support the $1,000 standard deduction. But we cannot support the schedules that increase taxes, that reduce housing supply, that discourage investment and that break explicit promises made to the Australian people before the election. The coalition will continue to fight these toxic taxes. We will continue to stand up for renters, for first home buyers, for small businesses, for investors and for self-starters, and, for those reasons, the coalition opposes schedules one and two of these bills and urges the Senate to reject them.”

    Liberal Party • Senator • 22 June 2026

    Read the full speech in Hansard ↗
  10. Julian Leeser Julian Leeser says the coalition will oppose the bill because he argues it breaks Labor's election promises and would damage housing supply, push up rents, and hurt family investors and small businesses.
    “But what stayed with me was not the statistics. It was the loss of confidence that hard work would be rewarded, that rules wouldn't change without warning and that government was competent at the basics. As one small-business owner wrote: 'I don't expect the government to solve all my problems. I just want them to stop making new ones.' A nurse who owns a home in Berowra Heights wrote to me: 'I did everything right. I worked hard, I saved, I bought a house. Now I feel like I'm going backwards.' And she isn't wrong. Frank from Normanhurst said it plainly. He said: 'This government is not just damaging household finances. It's damaging morale.' And that's why this set of tax laws that are before the parliament need to be opposed.”

    Liberal Party • MP • 02 June 2026

    Read the full speech in Hansard ↗
  11. Claire Chandler Claire Chandler says the coalition will oppose the bill because it is part of a broader tax package that raises taxes, adds complexity and uncertainty, and does not leave Australians better off.
    “As I've said, these tax reform bills are barely tax reform. To suggest that these changes alone are going to fix housing affordability in this country is frankly false, and it is not one that is supported by the evidence that is in the budget or that has been provided to the Senate committee. This is not a simplification exercise. This is not a reduction in the overall tax burden. It is a tax increase. For these reasons, as I have said, the opposition simply cannot support schedule 1 and schedule 2 of the Treasury Laws Amendment (Tax Reform No. 1) Bill, and we will not be supporting the Income Tax Rates Amendment (Tax Reform No. 1) Bill. Australians expect better than this. They expect reform that makes the system simpler not harder, that grows the economy, that doesn't add uncertainty and that leaves them better off not worse off. This bill does none of these things.”

    Liberal Party • Senator • 22 June 2026

    Read the full speech in Hansard ↗
  12. Henry Pike Henry Pike says the coalition will oppose the bill because, although it supports two minor offsets and deductions in it, the bill’s capital gains taxTax on the profit someone makes when they sell an asset, such as property or shares, for more than it cost them. and negative gearingA tax setting where an investor can deduct rental property losses from other income; the wider package limits this for residential property to new builds. changes would raise taxes, hurt small business and housing supply, and make it harder for Australians to get ahead.
    “In relation to the specific provisions within this bill, schedule 1 introduces changes to the CGT regime. The coalition opposes those. Schedule 2 introduces changes to the negative gearing regime, and the coalition opposes those as well. Schedule 3 introduces the working Australians tax offset. We support that. Schedule 4 introduces the $1,000 standard deduction for work related expenses. That's another measure that we support. A lot has been said by previous speakers, and I won't dwell on the point that this bill has obviously been glued together in order to try to create a wedge. However, in its totality, we cannot support this bill because of the massive increases in taxes that we're going to see.”

    Liberal National Party • MP • 03 June 2026

    Read the full speech in Hansard ↗
  13. Melissa McIntosh Melissa McIntosh opposes the bill, arguing it is a broken-election-promise tax increase that punishes aspiration, worsens the housing shortage and makes life harder for workers, investors and young Australians.
    “No-one voted for these taxes. Before the election, the Prime Minister promised more than 50 times he would not introduce them, yet here we are. The Albanese Labor government's budget changes to the capital gains tax and negative gearing demonstrate their inclination to tax ambition first and justify later. This is a budget of broken promises that takes a wrecking ball to the Australian dream and pulls the ladder of opportunity up on the next generation. Labor is reaching deeper into the pockets of millions of hardworking Australians because it cannot manage the nation's finances. The Albanese Labor government has won an award for something, though. It is now the highest taxing government in Australian history. Well done!”

    Liberal Party • MP • 03 June 2026

    Read the full speech in Hansard ↗
  14. Andrew Bragg Andrew Bragg speaks to the bill, focusing on the regulatory impact analysis was done on the basis of the recommendations of Senator McKim's committee report.
    “The regulatory impact analysis was done on the basis of the recommendations of Senator McKim's committee report. There wasn't even a RIS into this bill, which has changed about five times.”

    Liberal Party • Senator • 23 June 2026

    Read the full speech in Hansard ↗
  15. Jason Wood Jason Wood opposes the bill, saying it will raise taxes through changes to capital gains and trusts, hurt young people and small investors, and reduce rental supply.
    “The old rule was a 50 per cent discount on capital gains assets held for 12 months or more. The new rule is that those 50 per cent discounts will be replaced by inflation indexation plus 30 per cent minimum tax on gains applied from 2027. Again, for everyone who has been seeing their accountants for years and taken all this into account, it's going to change. This policy will raise taxes on ordinary Australians and reduce rental supply. Sellers will pay more tax under the new rules than under the old 50 per cent discount, obviously. Not just big investors but small landlords, retirees and long-term owners face higher tax bills. Some investors may sell or drop off buying established homes. I know this is what the government's tactic is. We want the investors to get out of the market, so in actual fact it actually allows the first home buyers to get in. But at the same time too, when it comes to rentals, you need the investors to be there. Most investors in this space are actually mum and dad investors. We're going to talk about the multicultural communities. A lot of these guys have negatively geared properties, and in the future they're not going to be going and buying another one.”

    Liberal Party • MP • 03 June 2026

    Read the full speech in Hansard ↗
  16. Angie Bell Angie Bell opposes the bill, saying it will raise harmful taxes that hurt aspiration, small business, housing and young Australians’ ability to get ahead.
    “I want to talk about intergenerational fairness. Previous generations, including mine, were told to work hard, save and invest and you'll get ahead, and young Australians deserve the same opportunity. It's their right to have the same opportunity. Instead, Labor has now moved the goalpost. It's now harder to save for a deposit. It's harder to buy a home. It's harder to invest in shares and build wealth and start a business. It's not intergenerational fairness. It's intergenerational betrayal. There are a lot of young people who buy shares to then make a profit in order to save for a deposit for their home. They now have to pay 30 per cent tax on that windfall. There are a lot of young people who buy a home where they don't live so that they can actually have an investment. They pay rent and live close to mum and dad. On the Gold Coast, this is common. They might buy a home in the regions and rent it out, and that is no longer available to young people where they can buy an existing home and rent it out and have that as a tax deduction. We reject these toxic taxes, and what we will do is repeal them.”

    Liberal National Party • MP • 03 June 2026

    Read the full speech in Hansard ↗
  17. Ben Small Ben Small says the coalition opposes the bill and will fight to stop these tax changes because he sees them as a hidden tax grab that punishes work, savings and investment rather than genuine tax reform.
    “I've noticed that government MPs are now plopping the word 'real' in front of lots of different things, but it doesn't change the simple economics that, when inflation is outpacing growth, people in this country are going backwards. That's why we will fight these toxic taxes tooth and nail. If they become law under this government, we will seek to repeal them when, inevitably, Australians boot them out of office. Further than that, we will stop this happening into the future with our plan to index income tax thresholds. Self-starters are what built this country, and an Australian government should always look them in the eye when seeking to take more of their hard earned money and fritter it away on whatever else they're spending.”

    Liberal Party • MP • 03 June 2026

    Read the full speech in Hansard ↗
  18. Anne Webster Anne Webster says the Coalition will oppose the bill because she argues it brings back bracket creepWhen wages rise with inflation and push people into higher tax brackets even though their real spending power has not increased much. and gives the Treasurer too much power over the tax offset, while breaking Labor's election promises on tax.
    “The coalition has promised with our tax back guarantee that we will index the tax brackets and halt bracket creep once and for all, putting more of what you earn in your pocket—a fixed change, not something up to the Treasurer of the day to determine. The Treasurer, today in question time, repeatedly said 'we're bringing back bracket creep' like it's a good thing. It is not. And, in case you missed it, we will repeal all the unmandated tax grabs in this bill. This is an attack on aspiration.”

    National Party • MP • 02 June 2026

    Read the full speech in Hansard ↗
  19. Sam Birrell Sam Birrell says he will oppose the bill because it bundles measures he supports, like the working Australians tax offset and the standard deduction, with capital gains taxTax on the profit someone makes when they sell an asset, such as property or shares, for more than it cost them. and negative gearingA tax setting where an investor can deduct rental property losses from other income; the wider package limits this for residential property to new builds. changes he says are a stealth tax grab that will hurt investors, small businesses and housing supply.
    “I'll take that interjection, because it's flatlining. It's flatlining on today's figures, Member for Bruce. I don't know if you checked those, Member for Bruce. Some of the hardest working Australians are going to be caught up by this tax grab—entrepreneurs, the people with ingenuity, the sweat equity, those generational businesses, the farmers that are trying for succession. No-one voted for these toxic taxes, and I'm not going to vote for them now. I support the WATO, the working Australians tax offset. I support the $1,000 automatic deduction. But I cannot support the changes to the capital gains tax and the negative gearing arrangements because of the way that they were brought in—stealthily—and the impact that they will have on real Australians.”

    National Party • MP • 03 June 2026

    Read the full speech in Hansard ↗
  20. Michaelia Cash Michaelia Cash says the coalition will oppose the bill because she sees it as a damaging new tax that punishes saving, investment and aspiration, especially for younger Australians trying to build wealth.
    “We will take a mandate to the next election to get rid of Labor's toxic taxes. Why? Because we stand for a fairer, freer and better Australia. These bills represent an assault on aspiration, a tax on ambition, a tax on investment and a tax on Australia's future. That is why the coalition will oppose them. We will fight this in the parliament, and we will take our case directly to the Australian people.”

    Liberal Party • Senator • 24 June 2026

    Read the full speech in Hansard ↗
  21. Leah Blyth Leah Blyth says the coalition will oppose the bill because it sees Labor's tax changes as broken promises that will damage housing, small business and investment.
    “The coalition opposes schedules 1 and 2, but we do support schedules 3 and 4. We are going to fight these taxes tooth and nail, and, if they become law under this Labor government—and we've seen today that Labor are going to do dodgy deals with the Greens—then a coalition government will repeal them. We have a vision for Australians. We want to unlock the potential of all Australians. We want to see Australians flourish and thrive here. We want to see investment. We want to see young Australians going out there and starting their own business. We want to see them keep the earnings from that business and that sweat capital that they pour into it. We want to see young Australians owning their own homes. We want to see them able to build their wealth here. I'm not sure when it happened, but when did working hard and creating wealth for yourself become such a bad thing? When did we become a country that wanted to look at wealth redistribution rather than allowing people to work hard and keep more of what they are earning?”

    Liberal Party • Senator • 23 June 2026

    Read the full speech in Hansard ↗
  22. Paul Scarr Scarr opposed the bill, arguing the government's tax changes break election promises and would drive investment, startups and mining capital offshore.
    “When I came into this place, one of my objectives was to advocate for policies that would make it easier, not harder, for people to set up businesses in this country to create wealth and generate opportunity for all Australians. That was one of my goals when I came into this place. I'd seen the power of people investing in the company which I was employed by and how that investment in an exploration company had led to mining projects in one of the poorest countries in the world and lifted thousands of people out of poverty. This Labor government budget will make that sort of investment less attractive and less likely to occur for the benefit of Australia's people.”

    Liberal Party • Senator • 23 June 2026

    Read the full speech in Hansard ↗
  23. Andrew Willcox Andrew Willcox opposes the bill, saying it is part of a broken promise on new taxes and will hurt young Australians, renters, first home buyers and small business while reducing housing supply and pushing up rents.
    “The member for Parramatta is one of those opposite, but he's a businessperson, so he even spoke about how bad this budget was. This budget is full of broken promises, and it's a budget that breaks the Australian dream. It's an assault on aspiration. Like I said before, it pulls up the ladder of opportunity. Labor's budget does not create intergenerational fairness. It is intergenerational fraud. This government's treasurer is the inflationary arsonist who pretends to be a firefighter. This is now the highest-taxing government in Australian history. The budget locks in $77 billion of higher taxes, and the Prime Minister has now confirmed $273 billion in taxes that we did not vote for, and that is over the next nine years. Debt is heading towards $1.25 trillion. The interest bill is $80,000 a minute. Today's debt is tomorrow's taxes, and it will be the next generation that will be handed the bill. The coalition opposes schedules 1 and 2, but we will support schedules 3 and 4. We are the party of lower taxes.”

    Liberal National Party • MP • 04 June 2026

    Read the full speech in Hansard ↗
  24. Tom Venning Tom Venning says the coalition will oppose the bill, arguing Labor's income tax changes are inadequate because inflation will quickly wipe out the promised relief and the government is pairing them with broader tax hikes.
    “The government's tax cuts will be wiped out by Christmas, owing to the inflation failures. Ours would not be. We will stop the cycle at the source. The coalition will restore normality to housing and migration. We will make sure Australia brings in only as many people as it can house. It's simple stuff. A coalition government will cap net overseas migration each year based on the number of new houses completed, not approved. Never again should a government bring in more people than a housing system can support.”

    Liberal Party • MP • 03 June 2026

    Read the full speech in Hansard ↗
  25. Sarah Henderson Sarah Henderson says the coalition opposes the bill as part of Labor's tax package, arguing it imposes harmful new taxes on investment, housing and younger Australians and should be repealed if it passes.
    “The coalition opposes schedules 1 and 2, and supports schedules 3 and 4 of these bills. We will fight these toxic taxes tooth and nail. If they become law under Labor, a coalition government will repeal them. Our plan is the opposite of Labor's—lower taxes, lower inflation and an economy designed to back the self-starters of the nation, not kneecap them. You work, you risk, you invest, you believe in this country and you have the certainty under the coalition. Hopefully, the next government will be a coalition government which will back Australians every step of the way.”

    Liberal Party • Senator • 24 June 2026

    Read the full speech in Hansard ↗
  26. Richard Colbeck Richard Colbeck opposes the bill, arguing it is a broken-election-promise tax hike that will raise more money by taxing investments and make it harder, not easier, for young Australians to save for a home.
    “They say, and they go out and they promise to young people, that this tax package is about intergenerational equity. They say, 'This is about helping you get into a new home.' You cannot believe any of those things, because it does none of those things. All of the things that Labor's talking points say they are trying to do with this tax package—all the things they are looking to do and aspire to do—are things it does not do. It doesn't make it easier for a young Australian to get a home. It doesn't make it easier to save for a home. We know that the additional tax on young Australians' savings through these measures, through their investments, will make it more difficult for them to save that first home deposit, because it's taxing the measures that everyone else has had in the past at a higher rate than it did previously.”

    Liberal Party • Senator • 24 June 2026

    Read the full speech in Hansard ↗
  27. Maria Kovacic Maria Kovacic says the Liberal opposition will oppose the bill because Labor's tax changes to capital gains and negative gearingA tax setting where an investor can deduct rental property losses from other income; the wider package limits this for residential property to new builds. are wrong, will not fix housing problems, and will make it harder for young Australians and renters to get ahead.
    “Let's be clear. We oppose Labor's capital gains tax changes, and we oppose Labor's changes to negative gearing. We oppose them because they are fundamentally wrong and because they do not solve the problems at hand. The thing that this government seems to want to hide from as well is the fact that they lied to the Australian people. They went to an election and said that they would not do this. The Prime Minister, Prime Minister Albanese, told Australians before the last election, 'There will be no changes,' and what has he done? He has done exactly what he said he wouldn't do. And we ask why people are losing trust in institutions. We ask why people are losing trust in democracy. It is because they don't get truth from government. Instead of getting answers as to what is really going on, they get smugness and arrogance, as though we aren't entitled to the real answers as to why things have occurred. Australians aren't stupid; they can see what is going on.”

    Liberal Party • Senator • 23 June 2026

    Read the full speech in Hansard ↗
  28. Tony Pasin Tony Pasin opposes the bill, arguing it is a major tax grab that Labor did not honestly put to voters before the election and that it will hurt home buyers, renters and small business owners.
    “I've got to tell you that almost everything about these changes is rotten. It's not just the fact that they weren't socialised with the Australian people before the election. It's not just the fact that the likelihood of them occurring was denied not once but 50 times. I'll tell you what else is rotten about it. Those opposite, almost in an Orwellian doublespeak, seek to say that the very measures that will strip aspiration away are doing the opposite—that they're measures that will assist our nation with its endeavours for aspiration. In another example of Orwellian doublespeak, they say this will help young people into homes at the very time these measures do quite the opposite.”

    Liberal Party • MP • 04 June 2026

    Read the full speech in Hansard ↗
  29. Melissa Price Melissa Price says the coalition will oppose the bill because it contains what she calls harmful tax changes, especially to capital gains taxTax on the profit someone makes when they sell an asset, such as property or shares, for more than it cost them. and negative gearingA tax setting where an investor can deduct rental property losses from other income; the wider package limits this for residential property to new builds., which she argues will hurt home buyers, small businesses, farmers and regional Australians.
    “I rise this evening to speak on the Treasury Laws Amendment (Tax Reform No. 1) Bill 2026 and the Income Tax Rates Amendment (Tax Reform No. 1) Bill 2026. It is in these pieces of legislation that Labor squarely attacks regional West Australians, small businesses, small-business owners, farmers, and younger and older residents. The coalition absolutely opposes the adjustments to the capital gains tax discount and negative gearing contained within these bills.”

    Liberal Party • MP • 02 June 2026

    Read the full speech in Hansard ↗
  30. Jamie Chaffey Jamie Chaffey opposes the bill overall, arguing its capital gains taxTax on the profit someone makes when they sell an asset, such as property or shares, for more than it cost them. and negative gearingA tax setting where an investor can deduct rental property losses from other income; the wider package limits this for residential property to new builds. changes would hurt farmers, young investors and family businesses even though he supports the tax offset and standard deduction measures in schedules 3 and 4.
    “I support schedule 3, the working Australians tax offset, and schedule 4, the $1,000 standard deduction for work related expenses. I do not support the changes to the capital gains tax regime or the changes to the negative gearing regime. How workable is a scheme that only rewards new builds? Where is the incentive to continue to cherish and maintain our beautiful older homes?”

    National Party • MP • 03 June 2026

    Read the full speech in Hansard ↗
  31. Dean Smith Dean Smith opposes the bill, arguing it is a damaging tax increase that will deter housing and business investment and especially hurt Western Australia's mining exploration sector.
    “The same legislation that is weakening confidence in Australia's housing market is now also weakening confidence in Australia's future resources industry. In both cases, Labor is discouraging the investment Australia needs most. That is why the legislation is fundamentally flawed. It will not make Australia more prosperous; it will make Australia less competitive. By contrast, the coalition believes Australians who take risks, build businesses, create jobs and invest in Australia should be encouraged, not punished. The government still has time to correct its mistake. It should listen to the evidence. It should listen to the resources industry. It should listen to Western Australians. It should provide junior mineral explorers with the same carve-out it has already granted to other high-risk, early stage industries. If it refuses to do so, it will tax away the investment needed to discover Australia's next generation of mines and make west Australians poorer for it. That would be a profound economic error.”

    Liberal Party • Senator • 23 June 2026

    Read the full speech in Hansard ↗
  32. Jessica Collins Jessica Collins says the coalition supports the parts of the tax package that give workers relief, including the working Australians tax offset, but opposes the new capital gains and negative gearingA tax setting where an investor can deduct rental property losses from other income; the wider package limits this for residential property to new builds. taxes elsewhere in the package.
    “The coalition opposes schedules 1 and 2, and we support schedules 3 and 4. But if the coalition wins government we will be repealing these bad taxes. Our plan is for lower taxes, lower inflation and an economy that backs entrepreneurs, backs small business, backs self-starters and backs people who are willing to take risk, because we believe that if you risk then you should be rewarded.”

    Liberal Party • Senator • 23 June 2026

    Read the full speech in Hansard ↗
  33. Andrew Wallace Andrew Wallace says the coalition will oppose the bill overall because it bundles tax offset and deduction measures they could support with capital gains taxTax on the profit someone makes when they sell an asset, such as property or shares, for more than it cost them. and negative gearingA tax setting where an investor can deduct rental property losses from other income; the wider package limits this for residential property to new builds. changes they say will damage housing and break the government's promises.
    “The bill itself in schedule 1 introduces changes to the capital gains tax regime. Schedule 2 introduces changes to the negative gearing regime. Schedule 3 introduces the working Australians tax offset. Schedule 4 introduces the $1,000 standard deduction for work related expenses. The coalition opposes schedules 1 and 2, and we will fight these steps every single step of the way. If this government had any sincerity, ethics or moral clarity whatsoever, it would split schedules 1 and 2 from schedules 3 and 4.”

    Liberal National Party • MP • 02 June 2026

    Read the full speech in Hansard ↗
  34. Wendy Askew Askew says the coalition will not support the bill package in its current form.
    “Finally, we will ensure that Australians retain the right to pass on what they have built, without the government taking a share at the end. This debate comes down to a very simple question: what kind of economy and what kind of country do we want to be? Is it one where aspiration is encouraged or one where it is taxed, one where young people are supported to get ahead or one where they face barrier after barrier, one where small business is celebrated or one where it is treated as a revenue source? For Tasmanians and for Australians more broadly, the answer is clear. We want an economy where effort is rewarded, where opportunity is real and where the next generation can look to the future with confidence. This legislation in its current form does not deliver that, and that is why the coalition opposes the harmful elements within it and will continue to stand up for Australians who simply want a fair chance to get ahead.”

    Liberal Party • Senator • 24 June 2026

    Read the full speech in Hansard ↗
  35. Matt O'Sullivan 2 contributions Matt O'Sullivan opposes the bill, saying it would impose a 30 per cent tax rate on young and lower income Australians' investments and make it harder for them to save and get ahead.

    Hansard records 2 separate contributions by Matt O'Sullivan on this bill. They are grouped here so the speaker is listed once.

    Second reading speech Liberal Party • Senator • 23 June 2026

    Matt O'Sullivan opposes the bill, saying the government's tax changes are a broken election promise backed by the Greens and will hurt Australians trying to build a future for themselves and their families.

    “We're going to binge it in the morning when I continue with this speech. I tell you this: what this government is doing is disappointing, because it's demonstration of a broken promise. We heard the Prime Minister say, no less than 50 times during the election, that there will be no changes when it comes to capital gains or when it comes to negative gearing. Yet this government has broken the promise to the Australian people, because these changes that have been brought in with the support of the Australian Greens are a fulfilment of a fantasy and a dream that this government and that the Prime Minister has had his entire adult life—ever since he was at university as a student unionist, he's been passionate about bringing in these sort of changes. It is disappointing because Australians who have their heart set on building a great future for themselves and, indeed, for their families are now having their aspirations cut short and broken.”
    Read this contribution in Hansard ↗

    Second reading speech Liberal Party • Senator • 24 June 2026

    Matt O'Sullivan opposes the bill, saying it would impose a 30 per cent tax rate on young and lower income Australians' investments and make it harder for them to save and get ahead. He argues it is a blunt tax grab that punishes aspiration rather than helping younger Australians.

    “But now with this, I lament, it is getting so hard, particularly for young Australians. Maybe they can't quite afford to buy their own home just yet. Of course we know that that's the reality for almost everyone. So what do they do? They want to invest in some shares to help build their equity and build their wealth. But now that is being taken away from them too because they're going to get taxed at a minimum of 30 per cent. What if you're earning less than $40,000 or $50,000 a year? You're going to be taxed at 30 per cent. The first tax rate of 30 per cent doesn't kick in until $45,000. It's just insane what you're doing here.”
    Read this contribution in Hansard ↗
  36. Michelle Landry Michelle Landry says the Coalition will oppose the bill overall: while it supports the tax offset and standard deduction in it, she argues they are small sweeteners wrapped inside a wider package of higher taxes that would hurt savings, investment, housing and small business.
    “This is the difference between a government that manages decline and an opposition that wants to restore reward for effort. Let us be clear. The bill includes the working Australians tax offset and the $1,000 standard deduction. The coalition supports those measures, but they sit beside a much bigger agenda of higher taxes on savings, investment and enterprise. Schedule 1 changes capital gains tax. Schedule 2 changes negative gearing, and buried in the broader agenda is a tax hit on family savings and discretionary trusts. This is Labor's pattern: give a little with one hand and take much more with the other. Labor offers a headline-friendly offset while designing a tax system that reaches deeper into people's futures. The coalition will support genuine relief, but we will not pretend these small sweeteners cancel out the wider assault on aspiration.”

    National Party • MP • 02 June 2026

    Read the full speech in Hansard ↗
  37. Leon Rebello 2 contributions Leon Rebello says the coalition will oppose the bill because he believes its changes to negative gearingA tax setting where an investor can deduct rental property losses from other income; the wider package limits this for residential property to new builds. and capital gains taxTax on the profit someone makes when they sell an asset, such as property or shares, for more than it cost them. will hurt investors, small businesses, first home buyers and renters.

    Hansard records 2 separate contributions by Leon Rebello on this bill. They are grouped here so the speaker is listed once.

    Second reading speech Liberal National Party • MP • 03 June 2026

    Leon Rebello says the coalition will oppose the bill because he believes its changes to negative gearingA tax setting where an investor can deduct rental property losses from other income; the wider package limits this for residential property to new builds. and capital gains taxTax on the profit someone makes when they sell an asset, such as property or shares, for more than it cost them. will hurt investors, small businesses, first home buyers and renters. He argues the measures punish effort and aspiration rather than providing genuine tax relief.

    “This bill moves us in the opposite direction, and the coalition will not support that. We won't support that because the people that we represent—the individuals, the small businesses, the mums and dads, the investors, the families, the first home buyers and the renters—expect better of us, and they expect better of this government. The coalition supports tax relief, and we have said that consistently. We support simpler tax returns, and we support working Australians keeping more of what they earn, but we won't be bullied into supporting Labor's toxic taxes.”
    Read this contribution in Hansard ↗

    Second reading speech Liberal National Party • MP • 03 June 2026

    Leon Rebello says the coalition will oppose the bill because, although it includes some tax relief the coalition supports, it also contains capital gains taxTax on the profit someone makes when they sell an asset, such as property or shares, for more than it cost them. and negative gearingA tax setting where an investor can deduct rental property losses from other income; the wider package limits this for residential property to new builds. changes they say would hurt investment, renters and first home buyers. He argues the government has bundled modest tax cuts with measures the coalition fundamentally rejects.

    “This bill contains four key schedules. Schedule 1 changes the capital gains tax regime. Schedule 2 changes negative gearing. Schedule 3 introduces the working Australians tax offset. Schedule 4 introduces a $1,000 standard deduction for work related expenses. The coalition supports schedules 3 and 4. We support tax relief for working Australians, we support making tax returns simpler and we support Australians keeping more of what they earn. But we oppose schedules 1 and 2 because they represent a direct attack on aspiration, on investment and on the Australian dream. What Labor has offered working Australians is a fraction of relief years from now—relief that will arrive after families have already been crushed by inflation, bracket creep, higher mortgages, higher rents and higher grocery bills. By the time many Australians actually see the benefit, it will have been eaten away by the very cost-of-living crisis that this government has helped create.”
    Read this contribution in Hansard ↗
  38. Mary Aldred Mary Aldred opposes the bill, saying it will hurt family farms, trusts and small businesses by creating uncertainty, forcing costly restructures and making it harder to pass businesses to the next generation.
    “For those reasons, I stand with the farmers, small businesses and families in my electorate of Monash. I oppose these measures. I want to say to family businesses and farmers in my electorate: I back you, the coalition backs you and we will be supporting you.”

    Liberal Party • MP • 04 June 2026

    Read the full speech in Hansard ↗
  39. Slade Brockman Slade Brockman opposes the bill, calling it a backward tax change that creates uncertainty and extra compliance costs for small business and self-managed super funds.
    “I just wish to thank Senator Barbara Pocock for allowing me to jump ahead in the order due to other duties that I have to take on in the not-too-distant future. I did want to speak on this bill, because it is such a retrograde step for our taxation system. Since the budget was handed down, I have met with, visited with, gone to after hours events with and spoken with chambers of commerce and small businesses in Western Australia. Apart from the uncertainty that this Labor budget has generated, the one thing that I have heard universally from every single one of those businesses is that they have had to go and talk to their financial advisers and their accountants about what these changes mean for them. Think about the deadweight loss that is applying to the Australian economy. Then, just in the last few days, another dirty deal was done with the Greens, changing the rules from the budget once more, attacking self-managed super funds, often controlled by small-business people for whom it was the best way to invest for their future. They've changed the rules again. Now, every single one of those small businesses, plus a whole new raft of people involved in self-managed super funds, are going to have to go and seek advice from their professional service providers, from their accountants, from their fund managers or from their auditors. This is a deadweight loss on the economy that will, over time, thanks to this Labor government, add up to billions of dollars, because this is a Labor government that just cannot get enough of your taxation. It wants more and more and more. It is drunk on spending your money, and it is coming after even more of it.”

    Liberal Party of Australia • Senator • 23 June 2026

    Read the full speech in Hansard ↗
  40. Susan McDonald Susan McDonald says the coalition will vote against the bill as part of Labor's tax package, arguing the package's main tax changes would hurt investment and break promises to voters.
    “The coalition opposes schedules 1 and 2, supports schedules 3 and 4 and calls on the government to immediately pass laws to end bracket creep and implement a tax back guarantee by indexing the personal income tax brackets to inflation, starting with the first two tax brackets in 2028-29 and the remaining tax brackets from 2031-32. The coalition notes that this will deliver lower income taxes permanently to all Australians and ensure that income tax cannot rise without the passage of new laws.”

    National Party • Senator • 22 June 2026

    Read the full speech in Hansard ↗
  41. Jacinta Nampijinpa Price Jacinta Nampijinpa Price says the coalition opposes the bill because she believes it adds barriers for small businesses, investors and apprentices instead of creating opportunities for Australians to get ahead.
    “Every apprentice creates opportunity, every business creates opportunity, every home built creates opportunity and every investment in a local community creates opportunity. Australia does not need more barriers to those opportunities. It needs more Australians willing to invest, hire, train and take risks. Prosperity is not created by government. It is created by Australians who build, hire, invest and take responsibility. This legislation will be remembered for what it will fail to do. It will fail to create more opportunity for Australians to do exactly that. That is what Australians and small-business owners have been telling us and trying to tell this government, and that is why the coalition opposes it.”

    Country Liberal Party • Senator • 22 June 2026

    Read the full speech in Hansard ↗
  42. Scott Buchholz Scott Buchholz says the coalition will oppose the bill as a whole because it rejects the capital gains taxTax on the profit someone makes when they sell an asset, such as property or shares, for more than it cost them. and negative gearingA tax setting where an investor can deduct rental property losses from other income; the wider package limits this for residential property to new builds. changes in schedules 1 and 2, even though it supports the tax offset and deduction measures in schedules 3 and 4.
    “I want to associate myself with this bill with my colleagues from the LNP—the Liberal-National Party—who have made contributions, and I want to be really clear, for the people of Australia, on what our position is when it comes to this bill. This bill has four schedules. The first schedule introduces changes to the capital gains tax regime. Schedule 2 introduces changes to the negative gearing regime. Schedule 3 introduces a working Australian tax offset. Schedule 4 introduces a $1,000 standard deduction for work related expenses. The coalition oppose schedules 1 and 2, and we support schedule 3 and 4. The reason I'm coming in and I'm making sure that this is on the record—and I'm looking straight down the camera when I make these pledges—is that we will support schedules 3 and 4, the schedules that reward hardworking Australians. But what we cannot do is support the changes that were articulated to negative gearing and the capital gains regime.”

    Liberal Party • MP • 03 June 2026

    Read the full speech in Hansard ↗
  43. Llew O'Brien Llew O'Brien opposes the bill, saying its tax measures will not give meaningful cost-of-living relief because inflation and bracket creepWhen wages rise with inflation and push people into higher tax brackets even though their real spending power has not increased much. have already wiped out the benefits.
    “Under Labor, even the basics have become unaffordable for many Australians. Households are paying more for electricity. A loaf of bread costs 22 per cent more than it did before this government was elected. Milk costs 23 per cent more, tea and coffee are up by 19 per cent, fruit is up by 18 per cent and home insurance is up by a whopping 40 per cent. The $1,000 instant tax deduction for taxpayers contained in this bill won't even begin to cover the rising costs of groceries, fuel and mortgage repayments.”

    National Party • MP • 02 June 2026

    Read the full speech in Hansard ↗
  44. Michael McCormack McCormack opposes the bill, arguing the government's tax changes are adding to the pressure on small business and leaving workers worse off amid rising costs.
    “It's been just 11 hours since the House rose and my contribution was interrupted by the adjournment, but, in that ensuing time, we've had many businesses face the awkward decision as to whether in fact they will continue to operate or not. Australia's small businesses are shutting at a disturbing rate: 40,000 microbusinesses lost in four years as wages that they have to pay go up. Admittedly, the workers are getting less bang for their buck, but tax reforms and calls for a three-day week just mount and small business is doing it so very tough.”

    National Party • MP • 04 June 2026

    Read the full speech in Hansard ↗
  45. Garth Hamilton Garth Hamilton opposes the bill, arguing its tax changes will cut private housing investment and leave Australia with fewer homes.
    “If the societal benefit were to produce fewer homes, sure. The societal benefit put forward by the government was intergenerational fairness—that we would create more opportunity for the next generation. Well, we're not doing that. It's clearly failing the very test the government set out. This does not provide more fairness for the younger generation. This does not create greater opportunity to enter into the housing market for the younger generation. What it does is reduce the number of houses that will be built. Very simply, when you reduce supply and maintain demand, the price will go up. That is what will happen. That is basic economics. We've seen that time and time again.”

    Liberal National Party • MP • 02 June 2026

    Read the full speech in Hansard ↗
  46. Andrew McLachlan McLachlan opposes the bill, arguing it punishes investment risk, adds unnecessary complexity and reflects a redistributive approach that will hurt productivity and innovation.
    “I also note the comments of Andrew Irvine, the National Australia Bank's CEO, who makes a very good point about rejecting or pushing back on the distinction between taxing on wealth and on labour, and points out that we should be focusing on the distinction between taxing passive assets and risk assets. Passive assets do not necessarily produce the same return. We don't want all our collective wealth going into passive assets; we want them going into risk assets, particularly if we are going to address the challenge of climate change. I want our country to produce the solutions for the world for the future, not to adopt the technologies from other countries. I don't commend the bill to the chamber.”

    Liberal Party • Senator • 24 June 2026

    Read the full speech in Hansard ↗

Greens

5 speakers · 5 support

  1. Barbara Pocock Barbara Pocock says the Greens will support the bill because it is a small step toward curbing investor tax breaks and they secured amendments to strengthen it, but she argues Labor has not gone nearly far enough to tackle the housing crisis.
    “I rise to speak to the Treasury Laws Amendment (Tax Reform No. 1) Bill 2026 and the Income Tax Rates Amendment (Tax Reform No. 1) Bill 2026. These bills are a very small step in the right direction. They could have been so much better, but they are a step heading the right way. Today, the Greens have secured changes to these bills to make it harder for wealthy property investors to outbid renters. While the Greens confirm we will support these tax changes to pass the Senate this fortnight, the fight does not stop there. There's so much more that this Labor government must do to fix this housing crisis that is only growing more urgent by the day.”

    Australian Greens • Senator • 23 June 2026

    Read the full speech in Hansard ↗
  2. Larissa Waters Larissa Waters ultimately backed the bill as a limited step because it ends these investor tax breaks for new entrants, but she argues Labor has watered it down by grandfathering existing investors and leaving the housing crisis largely untouched.
    “So I had hope and then I looked at the data, and the government are keeping the housing tax perks in place for anyone who already has them, and they're simply stopping anyone new from accessing them. Now, it's good that there's an end date on those tax perks, but to bake in inequality—what a missed opportunity to actually fix the housing crisis. All those people who've got 20, 50, 100 investment properties, nothing's changing for them. They keep almost every single benefit that they have now. That is tinkering.”

    Australian Greens • Senator • 24 June 2026

    Read the full speech in Hansard ↗
  3. Nick McKim Nick McKim says the Greens will support the bill as part of a package with Greens amendments, because it makes a small but worthwhile move against an unfair capital gains taxTax on the profit someone makes when they sell an asset, such as property or shares, for more than it cost them. break that worsens housing inequality.
    “Having said that, taken as a package with the Greens amendments, which will be supported through this Senate, this package constitutes a small step in the right direction. That is why the Greens are going to support it. The capital gains tax discount currently is the most unfair and egregious tax break on the tax books in this country. Sixty per cent of the benefit of the capital gains tax discount goes into the bank accounts of the wealthiest one per cent of people in this country. The one per cent get 60 per cent of the benefit. If you're poor, you get nothing out of the CGT discount, because you are too poor to buy the assets that would allow you to benefit from selling them at a profit later.”

    Australian Greens • Senator • 23 June 2026

    Read the full speech in Hansard ↗
  4. Mehreen Faruqi Mehreen Faruqi says the Greens will support the bill because it sets an end date for negative gearingA tax setting where an investor can deduct rental property losses from other income; the wider package limits this for residential property to new builds. and capital gains taxTax on the profit someone makes when they sell an asset, such as property or shares, for more than it cost them. breaks, but she argues Labor has badly weakened the reform by grandfathering existing investors and protecting wealthy property owners.
    “We are backing this bill because it puts an end date on these scam tax breaks, but the grandfathering of entire property empires is shameful. Labor have told young people that these policies are the reason you can't afford a home, and then they bake in unlimited tax breaks for the wealthy. Everyone who has already got rich off this keeps every cent. Everyone else—the young person scraping for a deposit, the renter priced out—gets nothing. Is it any wonder young people are angry and frustrated as their struggles go on and their material conditions don't improve while every property baron who has already used these taxpayer advantages to build an empire of bricks and mortar gets to keep playing by the old rules forever? Think about who that protects. Investors in this country that own dozens of properties get these tax breaks while every nurse, every teacher and every check-out worker pays tax on every single dollar that they earn.”

    Australian Greens • Senator • 24 June 2026

    Read the full speech in Hansard ↗
  5. Elizabeth Watson-Brown Watson-Brown says the Greens will support the bill in the House because taxing wealth from assets more fairly matters, but she argues the draft has major loopholes, overbroad ministerial powers and risks unintended harm to younger investors and others.
    “So where are we left on this bill? It's going to a Senate inquiry where these issues will be examined, as they should be. It's important we let that process play out. What we ultimately want to see is the billionaires, the ultrawealthy and the one per cent who are earning a huge amount from simply watching assets grow paying their fair share, but let's make sure that is actually what this bill will achieve. The Greens will be supporting this bill in the House. The government has the numbers, and the bill's clearly going to pass. But I want to make very clear that we will be reserving our position in the Senate.”

    Australian Greens • MP • 04 June 2026

    Read the full speech in Hansard ↗

One Nation

4 speakers · 5 contributions · 1 support · 3 oppose

  1. Malcolm Roberts Malcolm Roberts says One Nation supports the small income tax cut in this bill because workers are better off keeping that money, even though he argues the cut is far too small to address the cost of living and says his party would go further on bracket creepWhen wages rise with inflation and push people into higher tax brackets even though their real spending power has not increased much..
    “There are two other measures in this bill. One Nation will support the $5-a-week tax cut. Although $250 a year is nothing towards offsetting the rising cost of living, it's money better off in workers' pockets than in the government's pockets, where it'd be eaten up before it even gets into play in 2027. As a reminder, One Nation policy will put a lot more into the pockets of everyday Australians. We will index the tax thresholds to ensure nobody is forced into a higher tax bracket because they got a pay rise to make up for inflation. That's the stealth tax. I've tried twice to amend Treasury bills, once under the Liberals and once under Labor. Both times, both parties said they loved the idea—but not now.”

    Pauline Hanson's One Nation Party • Senator • 22 June 2026

    Read the full speech in Hansard ↗
  2. Pauline Hanson 2 contributions Pauline Hanson says One Nation opposes the bill and wants it scrapped because she argues the changes to capital gains taxTax on the profit someone makes when they sell an asset, such as property or shares, for more than it cost them. and negative gearingA tax setting where an investor can deduct rental property losses from other income; the wider package limits this for residential property to new builds. would punish ordinary property investors, reduce housing supply and make Australians poorer.

    Hansard records 2 separate contributions by Pauline Hanson on this bill. They are grouped here so the speaker is listed once.

    Second reading speech Pauline Hanson's One Nation Party • Senator • 22 June 2026

    Hanson opposes the bill, arguing the government’s tax changes will hurt young people trying to buy homes, add red tape and compliance costs, and damage aspiration rather than help anyone.

    “I've got to reply to this because it's just absolutely ridiculous that this is for the young ones. It's not. It's ripping the guts out of the young ones. Just to make the comment, this capital gains tax can only be, or negative gearing, on new homes. What you're doing is forcing young ones to move away from areas that they've actually grown up in—away from their parents, away from that support. If you wanted to negatively gear a house that you may want to move into in the future, it might be way out somewhere, away from family. You're not giving them a choice or an opportunity to buy a house where they want to buy the house. That is not helping the young ones at all, so this is just ridiculous—to actually tax businesses at 30 per cent. Then, from next year, they're going to have to get valuations done on their property—more cost to everyone. And then it's got to be indexed. This is more compliance and red tape that you're putting onto everyone again. You reckon you're helping everyone. You're not helping anyone at all with this tax.”
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    Second reading speech Pauline Hanson's One Nation Party • Senator • 23 June 2026

    Pauline Hanson says One Nation opposes the bill and wants it scrapped because she argues the changes to capital gains taxTax on the profit someone makes when they sell an asset, such as property or shares, for more than it cost them. and negative gearingA tax setting where an investor can deduct rental property losses from other income; the wider package limits this for residential property to new builds. would punish ordinary property investors, reduce housing supply and make Australians poorer.

    “The bill we're debating has only been firmly rejected by the majority of Australians. The recent carve-out of concessions is an acknowledgement the policy itself is fundamentally flawed. It should be completely scrapped. Capital gains tax discounts and negative gearing provide the housing so desperately needed by millions of Australians after state governments decimated public housing stock around the nation. They give many Australians the means to remain independent of the need for government handouts. One Nation will never support the changes to capital gains and negative gearing in this bill. One Nation will keep the capital gains discount where it is. We will support negative gearing for up to two investment properties—incentivise people, give them that ability. This captures around 94 per cent of the approximate two million property investors in Australia who own only one or two properties. They're not the greedy property tycoons Labor pretends they are. They're just hardworking Australians who have sacrificed and saved to invest in an independent future. There's no credible reason to tax these people out of investing altogether, but that's what Labor wants.”
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  3. Sean Bell Sean Bell says One Nation will vote against the bill, arguing Labor’s tax package is a rushed and deceptive tax grab that will leave Australians paying more and make it harder to save, invest and build wealth.
    “One Nation will oppose this legislation because Australians deserve better than a big tax grab and a failed budget from a government that cannot manage this economy, cannot keep its promises. Every time they feel they're caught short, they're reaching into the taxpayers' pockets and taking their money because they have run out of ideas of their own. Driving up inflation, driving up the pain that families are feeling—this truly is a disgrace. One Nation will not be supporting this legislation.”

    Pauline Hanson's One Nation Party • Senator • 22 June 2026

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  4. Tyron Whitten Tyron Whitten opposes the bill, arguing it is a punishing tax grab that will discourage people from starting and growing businesses.
    “But this bill dims that hope for the next generation. It pulls up the ladder. Kids will now have to contend with the fact that they give up to 47 per cent of their business to the government, a government that took no risk and put in no hours, no sleepless nights and no blood, sweat and tears. Every time you take away the incentives for people to take risks, we lose more money, more of our best and brightest and, with them, the jobs that they might have generated and the improvements to our way of life that they might have brought to this nation. It kills what built this nation in the first place.”

    Pauline Hanson's One Nation Party • Senator • 24 June 2026

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Minor parties and independents

8 speakers · 4 support · 4 oppose

  1. Zali Steggall ★ Zali Steggall supports tax changes aimed at investment property, but opposes the bill in its current form because it also hits shares, startups, trusts and business assets without enough detail, modelling or scrutiny.
    “There is not enough time to raise all the concerns with this bill, but I move the amendment as circulated in my name so that more investigation into this legislation can occur:”

    Independent • MP • 03 June 2026

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  2. Kate Chaney Kate Chaney opposes the bill in its current form, even though she backs the housing tax changes, the worker offset and the standard deduction.
    “I came to this parliament calling for exactly the kind of housing tax reform contained in this package. I welcome it. I support the negative gearing changes. I support the WATO as a first step towards reducing the tax burden on working Australians. I support the standard deduction, but I cannot support the extension of CGT changes beyond housing at this point. If the government wants to undertake tax reform that will last, it must build the case for it through a proper consultation process. It recognises that carve-outs are needed for startups. Eligibility will be complicated. The case has been made for CGT reform on housing, but beyond that the case has not been made. The easiest carve-out at this stage would be for all non-housing assets, and the best way to build the public's trust that this is part of a plan to ensure our tax system is fit for purpose in the longer term would be to include meaningful personal income tax cuts in this package, not $250 per person with ministerial discretion.”

    Independent • MP • 02 June 2026

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  3. Allegra Spender Allegra Spender says she supports the goals and many parts of the tax reform, but will not back the bill in its current form because she thinks it is rushed and the capital gains taxTax on the profit someone makes when they sell an asset, such as property or shares, for more than it cost them. design has serious unresolved flaws that need proper scrutiny first.
    “I know many will say that I'm allowing perfect to be the enemy of better, but I would argue that my community asked me to put reform on the table but also to make sure that the government gets the reform right. This bill is rushed. The proposed inquiry is unacceptably superficial. The government has admitted problems with the bill without fixing them. The government can't seek credit for the most significant tax reform in a generation and then push it through the House with only a week to review the detail. That is treating this parliament and the genuine issues of this bill with enormous disrespect. So I continue to urge the government to pause, rigorously test its assumptions and model, and, as uncomfortable as it is, bring the bill back to parliament when the reform is robust and it will stick.”

    Independent • MP • 03 June 2026

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  4. Nicolette Boele Nicolette Boele says she supports the bill's housing, tax-cut and deduction measures in principle, but will vote against the bill because it extends capital gains taxTax on the profit someone makes when they sell an asset, such as property or shares, for more than it cost them. changes far beyond property without proper consultation or settled design.
    “I genuinely believe in the direction of this reform. If this bill were only about housing—if the negative gearing changes were paired with the CGT reform and ring-fenced to residential property—I would vote for it without hesitation. But that is not what is before us. What we have been presented with is a change that applies across all asset classes and is introduced ahead of consultations that the government acknowledges it still needs to conduct, and it's happening with design questions still unresolved and without the broader public having been brought along on the journey. I will, of course, hold the government to account on its ongoing consultations with the startup and small-business sector, and I will keep pushing for more information and clearer communication about the impact of these changes. I commend the government's appetite for reform, but just because a policy is courageous doesn't mean it has been well designed or that the process has been thoughtful or transparent. For those reasons, and with genuine regret given how much I support the housing elements, the tax deductions and the tax cuts of this bill, I will not be supporting this legislation today. I urge the government to take the time to get this right, because this cause is just too important to continue to get wrong.”

    Independent • MP • 02 June 2026

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  5. Helen Haines ★ Helen Haines backs the bill because she says reforming capital gains taxTax on the profit someone makes when they sell an asset, such as property or shares, for more than it cost them. and negative gearingA tax setting where an investor can deduct rental property losses from other income; the wider package limits this for residential property to new builds. is a serious step toward fairer housing and tax settings, while criticising the government for rushing tranche 1 and leaving small businesses and trust users with too much uncertainty.
    “In tackling CGT and negative gearing, the government is taking steps towards addressing housing inequality. The proposed reforms are ambitious, and I welcome ambition in government. Changes to both CGT and negative gearing include exemptions for new houses, to help incentivise supply. From 1 July 2027, if you'd like to negatively gear an investment property and retain access to the 50 per cent CGT discount when you sell it, well, you can. You just need to invest in a new dwelling that adds to Australia's housing supply. Of course, new houses cannot be built in a vacuum, and I welcome the government listening to my call to put money in the budget for critical enabling infrastructure so that we can get those houses out of the ground.”

    Independent • MP • 04 June 2026

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  6. Andrew Wilkie Andrew Wilkie says he will support the bill because he has long campaigned for tax reform on residential property and believes it can help make housing more affordable.
    “You can see where I'm going with this, Deputy Speaker. I obviously support—in fact, I applaud—the government for deciding to do something about the tax arrangements regarding residential property. I will support the bill, and I will do it with honesty, because I went to the last election campaigning for tax reform of residential property. So I feel quite pure about this. I don't feel that I'm letting my community down by supporting this bill”

    Independent • MP • 03 June 2026

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  7. David Pocock Pocock says he supports the tax reform package overall and welcomes measures like winding back property tax breaks and making the instant asset write-off permanent, but argues the bill is rushed and flawed in key areas.
    “The amendments I put forward are not opposing reform; I support reform. They are about finishing the job properly, backing the people who build things with rules they can actually rely on, giving certainty to the people who invest and making sure the revenue we raise reaches the Australians who need a home. I urge the Senate to support these amendments and again thank the crossbench for pushing many of the things that have been in this bill, from changes to CGT and negative gearing on property to things like making the instant asset write-off permanent. I note we've actually had some votes on that in the past, and the major parties have not been willing to support them. So I think this is a really important step forward.”

    Independent • Senator • 22 June 2026

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  8. Monique Ryan Monique Ryan backs the bill overall because she supports changing capital gains taxTax on the profit someone makes when they sell an asset, such as property or shares, for more than it cost them. and negative gearingA tax setting where an investor can deduct rental property losses from other income; the wider package limits this for residential property to new builds. to improve housing affordability and tax fairness, but she criticises the government for extending the capital gains changes beyond housing without proper consultation or policy development.
    “So I support the reforms to CGT and negative gearing around housing that the government is proposing in this legislation, but the government did not flag its intention to extend CGT changes beyond housing before this year's budget. The case for reforming negative gearing and the CGT discount was made and largely accepted in the context of housing affordability, but, when the government announced on budget night that these changes would extend to all asset classes, including shares, start-up equity, venture capital and early-stage business, that caught many by surprise, not because the principle of increasing taxation across all asset classes, to approximate that of Labor, is inherently wrong—because it's not—but because there had been no consultation, no forewarning and no proper policy development process around those broader changes.”

    Independent • MP • 03 June 2026

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