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Treasury Laws 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, individuals, trusts and partnerships generally lose the 50% capital gains tax discountThe current rule that lets many individuals, trusts and partnerships pay tax on only half of an eligible capital gain; the bill generally replaces this with inflation-based treatment. and instead tax only gains after inflation.

Why was it introduced?

Current rules let many taxpayers discount capital gains by 50% and use rental property losses to reduce other income. The government’s bill replaces that with inflation-adjusted capital gains rulesA method that increases an asset's original purchase cost for inflation before working out the taxable capital gain, so tax is aimed at the gain above inflation., a 30% minimum taxA rule in the bill that would make some capital gains face at least a 30 per cent tax rate, with exemptions for some income support recipients., exemptions for some income support recipients, and quarantining of disallowed rental lossesRental losses that can no longer be used straight away against other income and are instead kept aside to reduce some later residential property gains..

Broader context

Australia already had a 50 per cent capital gains tax discountThe current rule that lets many individuals, trusts and partnerships pay tax on only half of an eligible capital gain; the bill generally replaces this with inflation-based treatment. and negative gearingA tax arrangement where an investor's rental property costs exceed rental income and the loss can reduce tax on other income; the bill limits when this can be done for residential property. rules that let many property investors deduct rental losses from other income, settings parliamentarians linked to the 1999 Howard government changes and worsening first-home-buyer access. After announcing negative gearingA tax arrangement where an investor's rental property costs exceed rental income and the loss can reduce tax on other income; the bill limits when this can be done for residential property. and capital gains taxTax paid on the profit made when an asset such as an investment property, shares or a business asset is sold. changes in the 2026–27 Budget, the government introduced this bill to redirect tax benefits towards new and affordable housing, secured Senate support with amendments, and had the changes enacted before their 1 July 2027 start date.

Key criticism

Critics argued the bill would raise effective taxes on capital gains and restrict negative gearingA tax arrangement where an investor's rental property costs exceed rental income and the loss can reduce tax on other income; the bill limits when this can be done for residential property. in ways that deter investment, reduce housing supply, hurt renters and small businesses, and damage sectors such as junior minerals exploration. Opposition came mainly from Coalition and One Nation speakers, while the Greens criticised the bill from the opposite direction for leaving existing investor tax advantages largely protected.

Who supported it?

The government 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, LNP, Liberal Party, some crossbench members.

Introduced in House 28 May 2026
Passed House 04 June 2026 Aye 93 No 49
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, individuals, trusts and partnerships generally lose the 50% capital gains tax discountThe current rule that lets many individuals, trusts and partnerships pay tax on only half of an eligible capital gain; the bill generally replaces this with inflation-based treatment. and instead tax only gains after inflation.

  2. A 30% minimum taxA rule in the bill that would make some capital gains face at least a 30 per cent tax rate, with exemptions for some income support recipients. applies to capital gains, but certain income support recipients are exempt so low-income, low-wealth people are not hit.

  3. Investors in new homes or affordable housing can still choose the capital gains tax discountThe current rule that lets many individuals, trusts and partnerships pay tax on only half of an eligible capital gain; the bill generally replaces this with inflation-based treatment. instead of the new capital gains rules.

  4. Rental property losses that can no longer reduce other income are kept aside and can later reduce some residential property capital gains.

Show source excerpts
  1. 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.
    Treasury Laws Amendment (Tax Reform No. 1) explanatory memorandum
  2. Second, the amendments impose a 30 per cent minimum tax on capital gains. This reduces the benefit to taxpayers of deferring realisation to years in which their marginal tax rates are low. It also ensures that capital gains face a tax rate that is closer to the tax rate most taxpayers face during their working life. Certain income support recipients will be exempt from the minimum tax to ensure that low‑income, low-wealth individuals are not adversely affected.
    Treasury Laws Amendment (Tax Reform No. 1) explanatory memorandum
  3. 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.
    Treasury Laws Amendment (Tax Reform No. 1) explanatory memorandum
  4. 3. Apply any quarantined amount relating to using or holding residential dwellings as residential accommodation to reduce certain kinds of remaining capital gains.
    Treasury Laws Amendment (Tax Reform No. 1) Act 2026 final Act text

Context

Broader context for this bill

Australia already had a 50 per cent capital gains tax discountThe current rule that lets many individuals, trusts and partnerships pay tax on only half of an eligible capital gain; the bill generally replaces this with inflation-based treatment. and negative gearingA tax arrangement where an investor's rental property costs exceed rental income and the loss can reduce tax on other income; the bill limits when this can be done for residential property. rules that let many property investors deduct rental losses from other income, settings parliamentarians linked to the 1999 Howard government changes and worsening first-home-buyer access. After announcing negative gearingA tax arrangement where an investor's rental property costs exceed rental income and the loss can reduce tax on other income; the bill limits when this can be done for residential property. and capital gains taxTax paid on the profit made when an asset such as an investment property, shares or a business asset is sold. changes in the 2026–27 Budget, the government introduced this bill to redirect tax benefits towards new and affordable housing, secured Senate support with amendments, and had the changes enacted before their 1 July 2027 start date.

  1. 1999

    Howard government capital gains taxTax paid on the profit made when an asset such as an investment property, shares or a business asset is sold. settings reshape housing investment

    Parliamentary debate on the bill linked the later housing-investor tax debate to the 1999 changes that created the 50 per cent capital gains tax discountThe current rule that lets many individuals, trusts and partnerships pay tax on only half of an eligible capital gain; the bill generally replaces this with inflation-based treatment. and interacted with negative gearingA tax arrangement where an investor's rental property costs exceed rental income and the loss can reduce tax on other income; the bill limits when this can be done for residential property..

    Hansard ↗
  2. 12 May 2026

    Budget announces negative gearingA tax arrangement where an investor's rental property costs exceed rental income and the loss can reduce tax on other income; the bill limits when this can be done for residential property. and capital gains taxTax paid on the profit made when an asset such as an investment property, shares or a business asset is sold. changes

    The government announced in the 2026–27 Budget that it would reform negative gearingA tax arrangement where an investor's rental property costs exceed rental income and the loss can reduce tax on other income; the bill limits when this can be done for residential property. and capital gains taxTax paid on the profit made when an asset such as an investment property, shares or a business asset is sold. arrangements as part of a housing and tax package.

    Australian Taxation Office ↗
  3. 28 May 2026

    The government introduces the tax reform bill

    The bill was introduced in the House of Representatives to put the Budget’s capital gains taxTax paid on the profit made when an asset such as an investment property, shares or a business asset is sold. and negative gearingA tax arrangement where an investor's rental property costs exceed rental income and the loss can reduce tax on other income; the bill limits when this can be done for residential property. measures into legislation.

    Parliamentary timeline ↗
  4. 23 June 2026

    Greens support helps the bill clear the Senate path

    A Greens senator said the party had secured changes to make it harder for wealthy property investors to outbid renters and would support the tax changes through the Senate.

    Hansard ↗
  5. 25 June 2026

    Parliament passes the bill

    Both houses passed the bill in the same form after the House agreed to Senate amendments, completing parliamentary approval.

    Parliamentary timeline ↗
  6. 26 June 2026

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

    The Governor-General gave Royal AssentThe formal approval by the Governor-General that turns a bill passed by Parliament into an Act of Parliament., making the reforms law before their scheduled start.

    Parliamentary timeline ↗
  7. 01 July 2027

    New housing-investor tax rules start

    From this date, the changes limit negative gearingA tax arrangement where an investor's rental property costs exceed rental income and the loss can reduce tax on other income; the bill limits when this can be done for residential property. for residential property investments to new builds and replace the 50 per cent capital gains tax discountThe current rule that lets many individuals, trusts and partnerships pay tax on only half of an eligible capital gain; the bill generally replaces this with inflation-based treatment. with cost-base indexationA method that increases an asset's original purchase cost for inflation before working out the taxable capital gain, so tax is aimed at the gain above inflation. and a 30 per cent minimum taxA rule in the bill that would make some capital gains face at least a 30 per cent tax rate, with exemptions for some income support recipients..

    Australian Taxation Office ↗

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 CommitteeA Senate committee that examines bills about economic and tax matters and can report concerns or recommend changes before Parliament votes.; 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 93 No 49 04 June 2026

Recorded vote: 93 to 49.

The chamber agreed to the bill at third reading, which completed passage through that chamber. Later message exchanges with the other chamber were still recorded afterwards.

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

Senate agreed to amendment packages 25 June 2026

The chamber considered amendments before the bill moved to the next stage.

Committee of the WholeA detailed Senate stage where senators consider and vote on specific changes to the text of a bill. debate

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

House agreed to Senate amendments 25 June 2026

The House dealt with Senate amendments or requests so both chambers could settle the bill in the same form.

Consideration of Senate message

Passed both houses 25 June 2026

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

Finally passed both Houses

Scrutiny of Bills review 25 June 2026

Considered by scrutiny committee (25/06/2026): Senate Standing Committee for the Scrutiny of Bills; Scrutiny Digest 7 of 2026

Scrutiny Digest 7 of 2026

APH bill page notes
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 of Parliament., turning the bill into an Act.

Key criticism

The main case against this bill

Critics argued the bill would raise effective taxes on capital gains and restrict negative gearingA tax arrangement where an investor's rental property costs exceed rental income and the loss can reduce tax on other income; the bill limits when this can be done for residential property. in ways that deter investment, reduce housing supply, hurt renters and small businesses, and damage sectors such as junior minerals exploration. Opposition came mainly from Coalition and One Nation speakers, while the Greens criticised the bill from the opposite direction for leaving existing investor tax advantages largely protected.

The strongest criticism split between economic harm claims and claims the housing reforms did not go far enough.

Investment and growth risk

Coalition speakers said replacing the 50% CGT discountThe current rule that lets many individuals, trusts and partnerships pay tax on only half of an eligible capital gain; the bill generally replaces this with inflation-based treatment. and limiting negative gearingA tax arrangement where an investor's rental property costs exceed rental income and the loss can reduce tax on other income; the bill limits when this can be done for residential property. would punish saving, risk-taking and business investment, with flow-on effects for jobs, productivity and future revenue.

Raised by Coalition senators and MPs including Michaelia Cash, Matthew Canavan, Andrew McLachlan and Sarah Henderson Source ↗

Housing supply and rent concerns

Opponents argued the negative gearingA tax arrangement where an investor's rental property costs exceed rental income and the loss can reduce tax on other income; the bill limits when this can be done for residential property. changes could push investors away from rental housing, reducing supply and making rents and home ownership pressures worse rather than better.

Raised by Coalition speakers including Wendy Askew and Sarah Henderson, and One Nation senator Pauline Hanson Source ↗

Impact beyond housing

Some criticism focused on the CGTTax paid on the profit made when an asset such as an investment property, shares or a business asset is sold. changes applying more broadly than residential property, including to businesses and other assets, with specific warnings that junior minerals explorers could lose access to high-risk investment capital.

Raised by Matt O'Sullivan, Dean Smith and legal analysis by Baker McKenzie Source ↗

Too weak to fix housing inequality

Greens criticism was that the bill only partly wound back investor tax breaks because it grandfatheredA way of protecting existing investments from some new rules, so the changes mainly apply to future investments or future gains. existing investments and protected wealthy property owners, limiting the expected housing affordability benefit.

Raised by Greens senators including Larissa Waters and Mehreen Faruqi Source ↗

Further sources

parlinfo.aph.gov.au ↗ parlinfo.aph.gov.au ↗ bakermckenzie.com ↗ 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 93 No 49

Passed 93 to 49. 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 86 / 0
Liberal 0 / 23
Nationals 0 / 14
Independent 3 / 7
Unknown 3 / 0
One Nation 0 / 2
Greens 1 / 0
Centre Alliance 0 / 1
LNP 0 / 1
Liberal Party 0 / 1
Carried

House passed the bill

Aye 94 No 49

Passed 94 to 49. 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 87 / 0
Liberal 0 / 22
Nationals 0 / 14
Independent 3 / 7
Unknown 3 / 0
One Nation 0 / 2
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, Greens, and minor parties and independents. Opposition came from Liberal, Nationals, Centre Alliance, and LNP. Minor-party and independent votes were split.

04 June 2026

Party Recorded votes Aye / No
Labor 87 / 0
Liberal 0 / 23
Nationals 0 / 14
Independent 5 / 5
Unknown 3 / 0
Greens 1 / 0
Centre Alliance 0 / 1
LNP 0 / 1
Liberal Party 0 / 1
One Nation 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

Amendments grouped by chamber. Where APH reports aggregate counts, the package card summarizes the matching public amendment sheets by source theme.

House

Defeated

Refer tax reform bills to inquiry

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

Because the referral was rejected, the bills stayed on the floor of the House and continued without a committee inquiry at that stage.

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

Cut off second-reading debate

Aye 89 No 49

Passed 89 to 49. Support came from Labor and minor parties and independents. Opposition came from Liberal, Nationals, Centre Alliance, LNP, and minor parties and independents.

04 June 2026

Passing the closure let the House stop debate and proceed straight to votes on the second-reading amendments and the bill itself.

Party Recorded votes Aye / No
Labor 86 / 0
Liberal 0 / 23
Nationals 0 / 13
Independent 0 / 9
Unknown 3 / 0
Centre Alliance 0 / 1
LNP 0 / 1
Liberal Party 0 / 1
One Nation 0 / 1
Defeated

Call to delay tax reforms

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

Rejecting the amendment meant the House did not add a statement calling for the reforms to be postponed before giving the bill second-reading approval.

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

Call for small business tax relief

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

Rejecting the amendment meant the House did not add a second-reading statement pressing for updated small business concession thresholds.

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

Call to limit tax changes to property

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 defeat meant the House did not add a second-reading statement urging the government to confine the reforms to property and investigate the wider effects more closely.

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 restrict and review tax reforms

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

Rejecting the amendment meant the House did not add a second-reading statement pressing for narrower reforms or a fuller public review first.

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

Call to end income bracket creep

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

Its defeat meant the House did not attach that tax-indexationA method that increases an asset's original purchase cost for inflation before working out the taxable capital gain, so tax is aimed at the gain above inflation. call to the bill's second-reading motion.

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 that day

Aye 92 No 48

Passed 92 to 48. Support came from Labor and minor parties and independents. Opposition came from Liberal, Nationals, Centre Alliance, and LNP. Minor-party and independent votes were split.

04 June 2026

This paused proceedings temporarily without ending consideration of the bill, letting the House return to it later that day.

Party Recorded votes Aye / No
Labor 87 / 0
Liberal 0 / 22
Nationals 0 / 14
Independent 2 / 8
Unknown 3 / 0
Centre Alliance 0 / 1
LNP 0 / 1
Liberal Party 0 / 1
One Nation 0 / 1
Defeated

Remove capital gains tax changes

Aye 43 No 93

Defeated 43 to 93. Support came from Liberal, Nationals, Centre Alliance, and Katter's Australian Party. Opposition came from Labor and minor parties and independents. Liberal Party had split recorded votes. Minor-party and independent votes were split.

04 June 2026

Defeating the package kept the core housing and capital gains taxTax paid on the profit made when an asset such as an investment property, shares or a business asset is sold. reforms in the bill as it moved toward passage in the House.

Party Recorded votes Aye / No
Labor 0 / 86
Liberal 22 / 0
Nationals 14 / 0
Independent 2 / 4
Liberal Party 1 / 1
Unknown 0 / 2
Centre Alliance 1 / 0
Katter's Australian Party 1 / 0
LNP 1 / 0
One Nation 1 / 0
Defeated

Limit tax changes to property assets

Aye 7 No 104

Defeated 7 to 104. Opposition came from Labor, Liberal, Nationals, LNP, and minor parties and independents. Minor-party and independent votes were split.

04 June 2026

Its defeat meant the bill's capital gains taxTax paid on the profit made when an asset such as an investment property, shares or a business asset is sold. changes were not narrowed to property alone in the House.

Party Recorded votes Aye / No
Labor 0 / 64
Liberal 0 / 19
Nationals 0 / 14
Independent 7 / 1
Unknown 0 / 3
LNP 0 / 1
Liberal Party 0 / 1
One Nation 0 / 1
Defeated

Average capital gains and index losses

Aye 9 No 69

Defeated 9 to 69. Support came from Katter's Australian Party. Opposition came from Labor, One Nation, and minor parties and independents. Minor-party and independent votes were split.

04 June 2026

Rejecting the package left the House bill without those softer treatment and business-asset carve-out changes.

Party Recorded votes Aye / No
Labor 0 / 63
Independent 8 / 1
Unknown 0 / 3
One Nation 0 / 2
Katter's Australian Party 1 / 0
Defeated

Index small business tax thresholds

Aye 50 No 87

Defeated 50 to 87. Support came from Liberal, Nationals, One Nation, Katter's Australian Party, and minor parties and independents. Opposition came from Labor and minor parties and independents. Liberal Party had split recorded votes.

04 June 2026

Its defeat meant the House bill kept the existing thresholds rather than building in ongoing indexationA method that increases an asset's original purchase cost for inflation before working out the taxable capital gain, so tax is aimed at the gain above inflation..

Party Recorded votes Aye / No
Labor 0 / 84
Liberal 22 / 0
Nationals 14 / 0
Independent 9 / 0
Liberal Party 1 / 1
One Nation 2 / 0
Unknown 0 / 2
Katter's Australian Party 1 / 0
LNP 1 / 0
Carried

Cut off debate on Senate changes

Aye 90 No 47

Passed 90 to 47. Support came from Labor, Greens, Liberal Party, and minor parties and independents. Opposition came from Liberal, Nationals, Centre Alliance, LNP, and minor parties and independents.

25 June 2026

Passing the closure forced the House straight to the vote on accepting the Senate amendments, speeding the bill toward final passage.

Party Recorded votes Aye / No
Labor 87 / 0
Liberal 0 / 24
Nationals 0 / 11
Independent 0 / 9
Greens 1 / 0
Centre Alliance 0 / 1
LNP 0 / 1
Liberal Party 1 / 0
One Nation 0 / 1
Unknown 1 / 0
Carried

House voted on a proposed amendment

Aye 98 No 39

Passed 98 to 39. Support came from Labor, Greens, Liberal Party, and minor parties and independents. Opposition came from Liberal, Nationals, Centre Alliance, and LNP. Minor-party and independent votes were split.

25 June 2026

The proposed change was agreed.

Party Recorded votes Aye / No
Labor 87 / 0
Liberal 0 / 24
Nationals 0 / 11
Independent 8 / 1
Greens 1 / 0
Centre Alliance 0 / 1
LNP 0 / 1
Liberal Party 1 / 0
One Nation 0 / 1
Unknown 1 / 0

Senate

Carried

Cut off 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, UAP, and minor parties and independents.

22 June 2026

Passing the closure let the Senate move straight to the procedural question on whether the bills could proceed without formalities.

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

Let the bills proceed without 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 proceed without formalities sped the bills through the introductory stage so the Senate could move on to substantive consideration more quickly.

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 end income bracket creep

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

Rejecting it meant the Senate did not add a second-reading call for permanent inflation indexationA method that increases an asset's original purchase cost for inflation before working out the taxable capital gain, so tax is aimed at the gain above inflation. of tax brackets to this bill.

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

Call to ban super funds from housing

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

Rejecting the package meant the Senate did not attach those criticisms and the super-fund housing ban call to the bill's 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 reform revenue

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

Its defeat meant the Senate did not add that housing-reinvestment call to the bill's 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 capital gains 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

This kept the bill's core capital gains taxTax paid on the profit made when an asset such as an investment property, shares or a business asset is sold. and negative gearingA tax arrangement where an investor's rental property costs exceed rental income and the loss can reduce tax on other income; the bill limits when this can be done for residential property. reforms in the Senate version of 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

Limit gearing exception to one dwelling

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

Their defeat meant the Senate did not add that one-dwelling cap through this amendment package.

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 super borrowing to business 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

This was one of the Senate changes that tightened the bill by restricting leveraged property investment through superannuation.

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

Set gain threshold and trust carve-out

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

Its defeat left the Senate bill without those threshold and inheritance-trust protections.

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

Allow gearing break for two dwellings

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

Their defeat meant the Senate did not broaden the planned exception to cover two properties.

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

Provide gearing break for one dwelling

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

Its defeat meant the Senate did not create that one-property negative gearingA tax arrangement where an investor's rental property costs exceed rental income and the loss can reduce tax on other income; the bill limits when this can be done for residential property. exception in the bill.

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 brackets 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

Defeating the request meant the Senate did not add automatic CPIA measure of inflation used on this page for proposals to increase tax thresholds or brackets each year in line with rising prices. indexationA method that increases an asset's original purchase cost for inflation before working out the taxable capital gain, so tax is aimed at the gain above inflation. of tax brackets to the tax rates legislation linked to this package.

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

Allow gearing break for two dwellings

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

Its defeat meant that broader two-property exception was not added during committee consideration.

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
Carried

Government package: 30 amendments

Government amendments would remove the power for the Minister to issue determinations regarding additional capital gains tax assets, limiting the relevant discount criteria to new residential dwellings and affordable housing.

25 June 2026

Passed on the voices

The chamber agreed to this amendment package without a counted vote. APH records the agreed count by amendment, while the source documents are grouped into amendment sheets.

Themes in the public amendment sheets

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

Lead opposing voice Opposes

Zali Steggall

Independent • MP 03 June 2026

Zali Steggall opposes the bill in its current form, even though she supports parts of it such as limiting negative gearingA tax arrangement where an investor's rental property costs exceed rental income and the loss can reduce tax on other income; the bill limits when this can be done for residential property. and reforming capital gains taxTax paid on the profit made when an asset such as an investment property, shares or a business asset is sold. on investment property.

Read in Hansard ↗
Lead supporting voice Supports

Helen Haines

Independent • MP 04 June 2026

Helen Haines backs the bill because she thinks changing capital gains taxTax paid on the profit made when an asset such as an investment property, shares or a business asset is sold. and negative gearingA tax arrangement where an investor's rental property costs exceed rental income and the loss can reduce tax on other income; the bill limits when this can be done for residential property. is a serious step toward fairer taxation and better housing affordability.

Read in Hansard ↗
Lead non-major voice Supports

David Pocock

Independent • Senator 22 June 2026

Pocock says he will back the bill’s tax reforms overall, especially winding back property tax concessions and making the instant asset write-off permanent, but argues the package is rushed and flawed and should be amended to protect startups, low-income taxpayers and families.

Read in Hansard ↗
Lead voice Opposes

Matthew Canavan

The Nationals • Senator 24 June 2026

Matthew Canavan opposes the bill, arguing it is an unmandated package of tax increases that will hurt investment and small business while doing nothing to fix the real problems of high costs, weak productivity and excessive government spending.

Read in Hansard ↗

All speeches by bloc

Labor

23 speakers · 25 contributions · 22 support · 1 unclear

  1. Clare O'Neil Clare O'Neil backs the bill, saying it should pass because its tax changes and worker tax cuts will make housing fairer by shifting incentives from investors in existing homes toward first home buyers and new construction.
    “We're working with states and territories to deliver a better deal for renters. This is an absolutely massive housing agenda, but, before this budget, we were not yet doing enough. We needed to fix the critical problem of what investors versus first home buyers are facing at auction. I honestly, truly believe—having been in this debate and looked at this problem over a long period of time—that doing nothing about this is not an option for our country. If we want housing to be fair for Australians, we have to make the changes that are in this bill before us.”

    Australian Labor Party • MP • 03 June 2026

    Read the full speech in Hansard ↗
  2. Lisa Darmanin Lisa Darmanin strongly backs the bill, arguing it will make the tax system fairer by curbing capital gains and negative gearingA tax arrangement where an investor's rental property costs exceed rental income and the loss can reduce tax on other income; the bill limits when this can be done for residential property. concessions that favour wealthy investors, while helping workers and improving housing access for younger Australians.
    “Today, too many young Australians are being denied those opportunities, and these reforms are an important step towards changing that. They are about restoring fairness for workers, they are about rewarding work, they are about making housing more accessible, and they are about ensuring that Australia's tax system serves the interests of the many not just the fortunate few. I urge everybody to support the legislation.”

    Australian Labor Party • Senator • 22 June 2026

    Read the full speech in Hansard ↗
  3. Corinne Mulholland Corinne Mulholland strongly backs the bill, saying it will cut taxes for workers and make housing fairer by winding back investor tax breaks that push up house prices.
    “So what are we doing about it? We are replacing the 50 per cent capital gains tax discount with an inflation adjusted indexation so that only real gains are taxed, not paper gains—not inflation but real gains. We are limiting negative gearing on residential property to new builds from 2027-28. This will channel investment where it is needed—into new housing supply, not into bidding up the price of existing homes that a first home buyer is also trying to purchase at a weekend auction. Over 80 per cent of new investor lending currently goes to existing homes. We are changing that. These changes will help around 75,000 more Australians achieve their dream of homeownership. That's 75,000 families and 75,000 sets of keys to a front door of a home of their own.”

    Australian Labor Party • Senator • 24 June 2026

    Read the full speech in Hansard ↗
  4. Katy Gallagher 2 contributions Katy Gallagher strongly supports the bill, saying it should pass because it cuts taxes for workers, gives first home buyers a better chance, and reforms negative gearingA tax arrangement where an investor's rental property costs exceed rental income and the loss can reduce tax on other income; the bill limits when this can be done for residential property. and capital gains taxTax paid on the profit made when an asset such as an investment property, shares or a business asset is sold. to make the system fairer and support housing supply.

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

    Second reading speech Australian Labor Party • Senator • 22 June 2026

    Katy Gallagher strongly supports the bill, saying it should pass because it cuts taxes for workers, gives first home buyers a better chance, and reforms negative gearingA tax arrangement where an investor's rental property costs exceed rental income and the loss can reduce tax on other income; the bill limits when this can be done for residential property. and capital gains taxTax paid on the profit made when an asset such as an investment property, shares or a business asset is sold. to make the system fairer and support housing supply.

    “This Bill limits negative gearing on properties purchased after Budget night to new builds, and returns the capital gains tax to its original intent.”
    Read this contribution in Hansard ↗

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

    Katy Gallagher strongly backs the bill, saying it delivers major tax reform by cutting taxes for workers and reshaping capital gains taxTax paid on the profit made when an asset such as an investment property, shares or a business asset is sold. and negative gearingA tax arrangement where an investor's rental property costs exceed rental income and the loss can reduce tax on other income; the bill limits when this can be done for residential property. to help first home buyers while supporting new housing supply. She argues the changes are needed to fix distortions in the tax system and says the government wants the bills passed this sitting period to give certainty to investors, workers and businesses.

    “I note the committee report into these bills. I thank the committee for their inquiry and for the report, and for the recommendation that the bills be passed. With regard to the coalition's dissenting report, the government supports the passage of these bills as a package, with passage this sitting period providing certainty for investors, workers and businesses. The government has no plans to change the Charter of Budget Honesty, and the government is delivering real cost-of-living relief by cutting taxes five times, including two more tax cuts in these bills.”
    Read this contribution in Hansard ↗
  5. Matt Gregg Matt Gregg supports the bill, arguing its tax and housing changes will help more Australians buy a home, reward work and lift productivity by shifting investment toward more productive uses.
    “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 ↗
  6. Josh Burns Josh Burns strongly supports the bill, saying it will make the tax system fairer by shifting some of the burden away from wage earners and by reforming capital gains taxTax paid on the profit made when an asset such as an investment property, shares or a business asset is sold. and negative gearingA tax arrangement where an investor's rental property costs exceed rental income and the loss can reduce tax on other income; the bill limits when this can be done for residential property. to improve housing access for younger Australians.
    “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.”

    Australian Labor Party • MP • 03 June 2026

    Read the full speech in Hansard ↗
  7. Michelle Ananda-Rajah Michelle Ananda-Rajah supports the bill, saying it is a major tax reform to curb negative gearingA tax arrangement where an investor's rental property costs exceed rental income and the loss can reduce tax on other income; the bill limits when this can be done for residential property. and capital gains taxTax paid on the profit made when an asset such as an investment property, shares or a business asset is sold. distortions that have driven housing unaffordability and shut younger Australians out of homeownership.
    “These changes will mean that negative gearing is now limited to new residences—new homes. We believe that these changes will result in 75,000 homes moving from property investors to owner-occupiers. And, yes, the modelling does suggest that there will be some reduction in new house builds of around 35000, but this is being more than offset by our $47 billion package which is designed to boost housing supply, cut red tape and skill up more tradies in construction. On the supply side, we have ring fenced 100,000 new builds just for first home buyers, and these deals are starting to be done with the state governments. The first one was in South Australia. We've also, in this budget, allocated $2 billion for enabling infrastructure. This means money for things like powerlines, pipes and pavements so that new builds can be fast-tracked.”

    Australian Labor Party • Senator • 24 June 2026

    Read the full speech in Hansard ↗
  8. Jerome Laxale Jerome Laxale strongly backs the bill, saying it corrects tax settings that have pushed up house prices and locked first home buyers out, while shifting investment toward new housing supply.
    “This budget is about two things. It's about coming to terms with the errors of the past. It's about listening to young Australians and working with them to set up an Australia with a fairer future. It takes political courage to fix the structural errors of the past. While others sit here to defend a broken status quo, my electorate has told me again and again that the status quo is broken and that things need to change. To me, this budget represents a positive line in the sand. This is the change our economy needs, the change our budget needs. We're doing this at the right time for the right reasons, and I commend this bill to the House.”

    Australian Labor Party • MP • 03 June 2026

    Read the full speech in Hansard ↗
  9. Anthony Albanese Anthony Albanese strongly backs the bill and says Labor will vote for it because it gives tax relief to millions of workers and changes negative gearingA tax arrangement where an investor's rental property costs exceed rental income and the loss can reduce tax on other income; the bill limits when this can be done for residential property. and capital gains taxTax paid on the profit made when an asset such as an investment property, shares or a business asset is sold. to make home ownership fairer for young Australians.
    “Treasury Laws Amendment (Tax Reform No. 1) Bill 2026 prove that Labor is the party of aspiration. They prove that Labor is the party of fairness. Importantly, Labor is the party of homeownership and Labor is the party of lower income taxes for every working Australian. This bill, which every single Labor member of the House of Representatives is looking forward to voting for tomorrow, delivers a new $250 working Australians tax offset to over 13 million working Australians; a $1,000 instant tax deduction that will benefit around six million low- and middle-income Australians; and reforms to negative gearing and capital gains tax that will rebalance the tax system and finally give young people a fair crack at homeownership.”

    Australian Labor Party • MP • 03 June 2026

    Read the full speech in Hansard ↗
  10. Sharon Claydon Sharon Claydon strongly supports the bill and wants it passed unamended, saying it will cut taxes for workers, simplify tax time and make housing fairer by changing negative gearingA tax arrangement where an investor's rental property costs exceed rental income and the loss can reduce tax on other income; the bill limits when this can be done for residential property. and capital gains taxTax paid on the profit made when an asset such as an investment property, shares or a business asset is sold. to help first home buyers.
    “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.”

    Australian Labor Party • MP • 03 June 2026

    Read the full speech in Hansard ↗
  11. Matt Burnell Matt Burnell supports the bill, saying its tax changes will make the system fairer and more effective by steering investment into new housing, improving affordability and reducing distortions in capital gains taxTax paid on the profit made when an asset such as an investment property, shares or a business asset is sold..
    “That is why schedules 1 and 2 of this legislation are so important. The reforms to negative gearing and capital gains tax are designed to improve housing affordability, while ensuring investment continues to play an important role in the economy. Beginning from 1 July 2027, negative gearing arrangements for residential property purchased after budget night will be limited to new builds. Why is this? It's straightforward: Australia needs more homes. More supply is essential if we are serious about improving affordability. Directing investment towards new construction helps increase the number of properties available to Australians, while supporting jobs throughout the construction sector.”

    Australian Labor Party • MP • 03 June 2026

    Read the full speech in Hansard ↗
  12. Tania Lawrence Tania Lawrence supports the bill, arguing it delivers a responsible reform budget that helps with cost-of-living pressure through stronger Medicare, cheaper medicines, housing investment and other practical support.
    “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 ↗
  13. Libby Coker Libby Coker supports the bill, saying it will give workers tax relief, simplify deductions and make housing more affordable by steering tax breaks toward new homes rather than existing properties.
    “But supply alone cannot be the whole answer. We also have a responsibility to ensure that our tax settings support the goal of homeownership rather than working against it. This legislation limits future negative gearing arrangements for residential property investments to new builds. Importantly, existing investments are grandfathered. Australians who have made decisions under the current rules will not be affected. Investors who purchase new housing that adds to supply will continue to have access to negative gearing. We are changing incentives so that tax concessions are directed towards increasing housing stock rather than intensifying competition for existing homes. That matters, and it makes absolute sense, because, if a tax concession exists, it should support outcomes that benefit the broader community. As Australians, we're all in it together. Treasury modelling indicates that these reforms will help about 75,000 additional Australians purchase a home over the coming decade. For many young Australians, that could make a profound difference. It could mean the difference between remaining locked out of the market and owning a home of their own.”

    Australian Labor Party • MP • 03 June 2026

    Read the full speech in Hansard ↗
  14. Ash Ambihaipahar Ash Ambihaipahar backs the bill, saying it makes the tax system fairer and simpler by steering investment toward new housing, giving workers tax relief and cutting paperwork.
    “These reforms are also important because they demonstrate that economic responsibility and fairness can go hand in hand. This is often a false choice presented in public debate. Some say we must choose between helping households and maintaining financial responsibility. Others suggest reform is simply too difficult. But good governments do not avoid difficult decisions. Good governments confront them. The Albanese government is undertaking these reforms while also strengthening Medicare, helping with cost-of-living pressures, investing in housing, supporting businesses and maintaining responsible budget management. That matters, because tax reform should never be viewed in isolation. Tax reform is about the kind of country we want to build. Do we want a system that rewards effort? Do we want a system that encourages productive investment? Do we want a system that supports homeownership? I believe that Australians, unless they're the opposition—those who are laughing across the chamber—would answer yes to all of those questions. That is precisely why these reforms deserve support.”

    Australian Labor Party • MP • 03 June 2026

    Read the full speech in Hansard ↗
  15. Susan Templeman Susan Templeman backs the bill, saying it will make it easier for first home buyers by winding back tax breaks that favour existing property investors and by giving workers tax cuts.
    “But what we've done so far is not enough, and I know my community expects me to keep finding solutions for the problems that we face. One of our stated aims in the budget we just brought down was to make it easier for you to buy your first home, and that's what this bill is: a recognition that, as a government, we will continue to do what's best to provide opportunities for secure housing for people. Secure housing is something I was able to do as a matter of course in my 20s, and I think younger generations deserve to be able to make the same choices.”

    Australian Labor Party • MP • 03 June 2026

    Read the full speech in Hansard ↗
  16. Charlotte Walker Charlotte Walker supports the bill and says it should pass because it gives workers tax relief, simplifies tax returns and changes housing tax settings to help first home buyers and improve 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 ↗
  17. Deborah O'Neill Deborah O'Neill strongly backs the bill, saying it will make the tax system fairer for workers, first home buyers and younger Australians while still supporting small business and future investment.
    “Treasury Laws Amendment (Tax Reform No. 1) Bill 2026. It's a bill for workers. It's a bill for first home buyers. It's a bill for future generations. It's absolutely about helping Australians get ahead. It's absolutely, and unashamedly, about making the tax system fairer and better aligned with the reality of where tax from work should stand compared to tax from assets.”

    Australian Labor Party • Senator • 22 June 2026

    Read the full speech in Hansard ↗
  18. Zhi Soon Zhi Soon supports the bill, saying it delivers major tax reform by cutting taxes on work, curbing tax breaks that push up housing prices, and helping first home buyers while protecting existing investors from retrospective changes.
    “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 ↗
  19. Claire Clutterham Claire Clutterham strongly backs the bill, saying it is part of the government's bold tax and budget reform agenda to improve housing, health, education and investment opportunities while making the economy fairer.
    “The budget facilitates these aspirations because it is bold. It is progressive. So, to those in my community who ask me, 'When is your government going to do something?' the answer is, 'Right now.' Examining existing structures and reforming them is what we are doing, and, in doing so, we understand that reforming pre-existing structures requires genuine and meaningful consultation with the business community, which is what we are doing. I again thank those small businesses that I represent in my community of Sturt, who engage with me so constructively on this issue. Being progressive means not standing still or staying the same. So when is this government going to do something? Now. I commend the bill to the House.”

    Australian Labor Party • MP • 03 June 2026

    Read the full speech in Hansard ↗
  20. Zaneta Mascarenhas Zaneta Mascarenhas strongly backs the bill, saying it makes the tax system fairer by giving workers tax relief and helping first home buyers, while reducing the advantage given to asset income over wages.
    “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 ↗
  21. Carol Brown Carol Brown supports the bill and says it should pass because it cuts tax for workers, simplifies deductions and redirects housing tax breaks toward new homes to make the system fairer and help more people buy a home.
    “These bills will not solve every housing or tax challenge, but they are an important step towards a fairer system that rewards work, supports new housing and gives the next generation a better chance. That is good for Tasmania, good for working Australians and good for the country. I commend the bills to the Senate.”

    Australian Labor Party • Senator • 22 June 2026

    Read the full speech in Hansard ↗
  22. Julie-Ann Campbell Julie-Ann Campbell supports the bill, arguing it will make the tax system fairer and help housing affordability by steering tax breaks toward new housing supply while also 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 ↗
  23. Milton Dick 2 contributions No second reading speech about the bill is included here.

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

    Second reading speech Australian Labor Party • MP • 04 June 2026

    No second reading speech about the bill is included here. The extract only shows a division with Milton Dick acting as Speaker, so his own position on the bill is unclear.

    “(The Speaker—Hon. Milton Dick)”
    Read this contribution in Hansard ↗

    Second reading speech Australian Labor Party • MP • 04 June 2026

    There is no substantive second reading speech from Milton Dick on the bill in this extract; it only records a division with Dick acting as Speaker, so his position on the bill is unclear.

    “(The Speaker—Hon. Milton Dick)”
    Read this contribution in Hansard ↗

Coalition

35 speakers · 38 contributions · 35 oppose

  1. Matthew Canavan ★ Matthew Canavan opposes the bill, arguing it is an unmandated package of tax increases that will hurt investment and small business while doing nothing to fix the real problems of high costs, weak productivity and excessive government spending.
    “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)”

    The Nationals • Senator • 24 June 2026

    Read the full speech in Hansard ↗
  2. Zoe McKenzie Zoe McKenzie says the coalition will not support the bill because it pairs tax relief with what she calls unfair tax hikes, especially higher capital gains taxTax paid on the profit made when an asset such as an investment property, shares or a business asset is sold. and the removal of the extra private health insurance rebate for older Australians.
    “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 of Australia • MP • 03 June 2026

    Read the full speech in Hansard ↗
  3. Ross Cadell Ross Cadell says The Nationals will oppose the bill, arguing it is a big tax increase dressed up as reform that will hurt savers, investors and future small businesses while doing nothing 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.”

    The Nationals • Senator • 23 June 2026

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  4. Darren Chester Darren Chester says the coalition will oppose the bill because he argues Labor had no election mandate for these tax changes and that they would hurt farmers, small businesses and people trying to pass family assets to the next generation.
    “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.”

    The Nationals • MP • 03 June 2026

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  5. Jane Hume Jane Hume says the coalition opposes the bill because it would raise taxes, reduce housing supply and 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 of Australia • Senator • 22 June 2026

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  6. Andrew Bragg Andrew Bragg opposes the bill, saying it is a broken-promise tax hike dressed up as reform that will worsen the housing crisis by reducing supply and raise unfair taxes.
    “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. It changed yesterday and it has changed again today. Even if you wanted to do a RIS, you wouldn't know what you were actually looking at. So we have no idea of the long-term damage this will do to the economy. We do know that a 30 per cent CGT is punitive and bad for our economy. It makes us one of the most highly taxed economies on the planet. But, at the end of the day, the idea that more taxes on housing are going to be good is insane, and I flag that we will move amendments in relation to some of these superannuation matters so as to ensure that all super funds have the same tax benefit, rather than just picking out a few to get a kick in the pants from these government vested-interest people.”

    Liberal Party of Australia • Senator • 23 June 2026

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  7. Henry Pike Henry Pike says the Coalition will oppose the bill because, while it supports the tax offset and standard deduction measures, it says the capital gains taxTax paid on the profit made when an asset such as an investment property, shares or a business asset is sold. and negative gearingA tax arrangement where an investor's rental property costs exceed rental income and the loss can reduce tax on other income; the bill limits when this can be done for residential property. changes would impose large tax increases and hurt small business, housing supply and renters.
    “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 Party of Australia • MP • 03 June 2026

    Read the full speech in Hansard ↗
  8. Claire Chandler Claire Chandler says the Coalition opposes the bill because it is a net tax increase that makes the tax system more complex, hurts investment and housing supply, and has been rushed without proper scrutiny.
    “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 of Australia • Senator • 22 June 2026

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  9. Melissa McIntosh Melissa McIntosh opposes the bill, arguing Labor’s capital gains taxTax paid on the profit made when an asset such as an investment property, shares or a business asset is sold. and negative gearingA tax arrangement where an investor's rental property costs exceed rental income and the loss can reduce tax on other income; the bill limits when this can be done for residential property. changes are broken promises that will punish investors, cut housing supply and push up rents.
    “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 of Australia • MP • 03 June 2026

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  10. Jason Wood Jason Wood opposes the bill, arguing that its trust and capital gains taxTax paid on the profit made when an asset such as an investment property, shares or a business asset is sold. changes will slug ordinary Australians, force many people to restructure long-standing financial arrangements, and make it harder for young people to buy or rent a home.
    “And this budget is bad for young people. Young people don't feel helped by the budget. Many think they'll be worse off. Labor's changes close the pathway to buying a home and building wealth. Gen X and millennials feel forgotten too. New taxes and housing rules make buying and renting harder and more expensive. More homes won't appear as quickly as the government estimates. In actual fact—I'll go back to the budget papers—that reduction of 35,000 is promised by the government in its own budget papers. Small landlords will exit the system, and it's going to be a devastating time for investment.”

    Liberal Party of Australia • MP • 03 June 2026

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  11. Angie Bell Angie Bell opposes the bill, saying it will raise harmful taxes that make it harder for young people, investors and small businesses to get ahead and will worsen housing affordability.
    “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 Party of Australia • MP • 03 June 2026

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  12. Ben Small Ben Small opposes the bill and says the coalition will fight it because he sees its tax changes as a hidden tax grab that punishes investment, worsens housing supply and funds excessive government spending.
    “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 of Australia • MP • 03 June 2026

    Read the full speech in Hansard ↗
  13. Sam Birrell Sam Birrell says he will oppose the bill because he rejects the capital gains taxTax paid on the profit made when an asset such as an investment property, shares or a business asset is sold. and negative gearingA tax arrangement where an investor's rental property costs exceed rental income and the loss can reduce tax on other income; the bill limits when this can be done for residential property. changes as a stealth tax grab that will hurt entrepreneurs, farmers and other investors.
    “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.”

    The Nationals • MP • 03 June 2026

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  14. Leah Blyth Leah Blyth says the coalition will oppose the bill because it contains tax increases she argues will hurt housing, small business and young Australians, even though they support some later schedules.
    “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 of Australia • Senator • 23 June 2026

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  15. Andrew Willcox Andrew Willcox opposes the bill, arguing it imposes broken-promise tax increases that will reduce housing supply, push up rents and hurt young people and small businesses.
    “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.”

    The Nationals • MP • 04 June 2026

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  16. Tom Venning Tom Venning says the Coalition opposes the bill and will fight to repeal its tax changes because he argues they will raise taxes on investment, small business and family wealth, worsen housing supply and punish aspiration.
    “The coalition will fight these taxes. If they become law under Labor, a coalition government will repeal them. We will repeal the CGT changes and the death taxes hidden in the trust rules. When a government taxes something, you get less of it—less housing, less savings, less investment and less small business. We will back aspiration and reward hard work by scrapping these taxes. The self-starters built this country. Our message to those targeted by this budget is simple: we will back you to be the future. You work, you risk, you win.”

    Liberal Party of Australia • MP • 03 June 2026

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  17. Maria Kovacic Maria Kovacic says the Coalition opposes the bill because its capital gains taxTax paid on the profit made when an asset such as an investment property, shares or a business asset is sold. and negative gearingA tax arrangement where an investor's rental property costs exceed rental income and the loss can reduce tax on other income; the bill limits when this can be done for residential property. changes are wrong, were not honestly put to voters and will worsen housing affordability by pushing up rents without solving supply problems.
    “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 of Australia • Senator • 23 June 2026

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  18. Sarah Henderson Sarah Henderson says the coalition opposes the bill because it believes the main tax changes hit housing, savings, small business and younger Australians, even though it backs some parts of the package.
    “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 of Australia • Senator • 24 June 2026

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  19. Paul Scarr Paul Scarr opposes the bill, saying it breaks Labor's election promises and that higher capital gains taxTax paid on the profit made when an asset such as an investment property, shares or a business asset is sold. settings will drive investment, startups and mining exploration 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 of Australia • Senator • 23 June 2026

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  20. Richard Colbeck Richard Colbeck opposes the bill, arguing it is a broken election promise that raises more tax on investments, makes it harder for young people to save for a home and does not improve housing affordability.
    “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 of Australia • Senator • 24 June 2026

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  21. Tony Pasin Tony Pasin opposes the bill, saying it imposes major new taxes that were never honestly put to voters and 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 of Australia • MP • 04 June 2026

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  22. Jamie Chaffey Jamie Chaffey opposes the bill, saying its capital gains taxTax paid on the profit made when an asset such as an investment property, shares or a business asset is sold. and negative gearingA tax arrangement where an investor's rental property costs exceed rental income and the loss can reduce tax on other income; the bill limits when this can be done for residential property. changes would hurt farmers, young investors and family businesses, even though he supports the smaller tax offset and work-expense 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?”

    The Nationals • MP • 03 June 2026

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  23. Dean Smith Dean Smith opposes the bill, saying it is a higher-tax package that would hurt housing, deter investment and damage junior mineral exploration in Western Australia.
    “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 of Australia • Senator • 23 June 2026

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  24. Jessica Collins Jessica Collins says the coalition opposes the bill because it adds higher taxes on capital gains and negative gearingA tax arrangement where an investor's rental property costs exceed rental income and the loss can reduce tax on other income; the bill limits when this can be done for residential property. that she argues will hurt small business, housing supply and investment.
    “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 of Australia • Senator • 23 June 2026

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  25. Wendy Askew Wendy Askew says the coalition opposes the bill because its capital gains taxTax paid on the profit made when an asset such as an investment property, shares or a business asset is sold. and negative gearingA tax arrangement where an investor's rental property costs exceed rental income and the loss can reduce tax on other income; the bill limits when this can be done for residential property. changes would cut investment, reduce housing supply and hurt renters, first home buyers and small business, even though it supports the offset and standard deduction measures in schedules 3 and 4.
    “Then there is what has been described as a death tax. Tasmanians believe deeply in the idea that, if you work hard, save carefully and build something over a lifetime, you should be able to pass that on to your children and grandchildren. That is not about wealth. It is about legacy. It is about family. It is about giving the next generation a better start. When the government inserts itself into that process and claims a share, it crosses a line for many Australians. When that measure appears buried in the detail rather than clearly explained and openly debated, it raises serious questions about transparency and trust. The coalition takes a very different approach. We believe in an economy that backs people who work hard, take risks and try to get ahead. We will oppose these measures in schedules 1 and 2. If they are passed, we have been clear that they will be repealed by a coalition government, because when you tax investment, you get less investment; when you tax housing, you get fewer homes; and when you tax effort and ambition, you discourage both.”

    Liberal Party of Australia • Senator • 24 June 2026

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  26. Leon Rebello 2 contributions Leon Rebello says the Coalition will oppose the bill and vote it down because he believes its changes to negative gearingA tax arrangement where an investor's rental property costs exceed rental income and the loss can reduce tax on other income; the bill limits when this can be done for residential property. and capital gains taxTax paid on the profit made when an asset such as an investment property, shares or a business asset is sold. 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 and vote it down because he believes its changes to negative gearingA tax arrangement where an investor's rental property costs exceed rental income and the loss can reduce tax on other income; the bill limits when this can be done for residential property. and capital gains taxTax paid on the profit made when an asset such as an investment property, shares or a business asset is sold. will hurt investors, small businesses, first home buyers and renters. He argues the measures are unfair, raise taxes on aspiration and enterprise, and should be repealed if they pass.

    “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 Party of Australia • MP • 03 June 2026

    Leon Rebello says the coalition will oppose the bill because it ties tax relief they support to capital gains taxTax paid on the profit made when an asset such as an investment property, shares or a business asset is sold. and negative gearingA tax arrangement where an investor's rental property costs exceed rental income and the loss can reduce tax on other income; the bill limits when this can be done for residential property. changes they say will hurt investment, renters and first home buyers. He argues Labor has bundled acceptable 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 ↗
  27. Mary Aldred Mary Aldred opposes the bill, saying its trust and capital gains taxTax paid on the profit made when an asset such as an investment property, shares or a business asset is sold. changes would create uncertainty, force costly restructures and hurt family farms, small businesses and regional communities.
    “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 of Australia • MP • 04 June 2026

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  28. Slade Brockman Brockman opposes the bill, saying it is a retrograde tax change that will burden small businesses and self-managed super funds with extra complexity, advice costs and uncertainty.
    “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

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  29. Susan McDonald Susan McDonald says the coalition will oppose the bill overall because it believes the capital gains taxTax paid on the profit made when an asset such as an investment property, shares or a business asset is sold. and negative gearingA tax arrangement where an investor's rental property costs exceed rental income and the loss can reduce tax on other income; the bill limits when this can be done for residential property. changes will hurt investment, housing and especially junior mining exploration.
    “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.”

    The Nationals • Senator • 22 June 2026

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  30. Jacinta Nampijinpa Price Jacinta Nampijinpa Price says the coalition will oppose the bill because she believes it puts more tax and uncertainty on small businesses and investors, making it harder for Australians to invest, train apprentices and 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.”

    Liberal Party of Australia • Senator • 22 June 2026

    Read the full speech in Hansard ↗
  31. Scott Buchholz Scott Buchholz says the coalition will oppose the bill as a whole because it rejects the capital gains taxTax paid on the profit made when an asset such as an investment property, shares or a business asset is sold. and negative gearingA tax arrangement where an investor's rental property costs exceed rental income and the loss can reduce tax on other income; the bill limits when this can be done for residential property. changes in schedules 1 and 2, even though it supports the worker tax offset and standard deduction 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 of Australia • MP • 03 June 2026

    Read the full speech in Hansard ↗
  32. Michael McCormack Michael McCormack opposes the bill, arguing its tax changes and broader budget measures are hurting small and micro businesses, worsening insolvencies and making it harder for employers and workers alike.
    “That's 281 people who may well now be forced to live on welfare, 281 people who've given up the dream of running their own business, 281 people potentially—probably more—who've lost that hope, who've lost that drive, who've lost that zeal, that energy, that desire to get out of bed in the morning and make this country a better one. Shame on the government for this budget. It's an absolute disgrace. It should be very much looked at and reviewed.”

    The Nationals • MP • 04 June 2026

    Read the full speech in Hansard ↗
  33. Michaelia Cash 2 contributions Michaelia Cash says the coalition will oppose the bill because she believes it is a harmful tax package that will reduce investment, opportunity and growth, especially for younger Australians and aspiring business owners.

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

    Second reading speech Liberal Party of Australia • Senator • 24 June 2026

    Michaelia Cash says the coalition will oppose the bill because she believes it is a harmful tax package that will reduce investment, opportunity and growth, especially for younger Australians and aspiring business owners. She argues Labor’s deal with the Greens will make it harder to build wealth and says the coalition will campaign to repeal the measures.

    “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.”
    Read this contribution in Hansard ↗

    Second reading speech Liberal Party of Australia • Senator • 24 June 2026

    Michaelia Cash opposes the bill, arguing it imposes higher taxes on saving and investment and will punish aspiration, risk-taking and job creation. She says the measures will hurt both current and future investors, including young Australians trying to build wealth and buy a home.

    “The average Australian just wanted to be aspirational. Labor and the Australian Greens are putting a stake through the heart of aspiration. At a time when Australia should be encouraging investment, Labor has chosen a deliberate path and is punishing it. At a time when Australia should be encouraging aspiration, Labor is attacking it. At a time when Australia should be encouraging people to build wealth and create jobs, Labor is making it harder. That is why these bills are so dangerous. They don't simply affect today's investors; they affect tomorrow's investors.”
    Read this contribution in Hansard ↗
  34. Andrew McLachlan Andrew McLachlan opposes the bill, arguing it reflects a redistributive tax philosophy that punishes risk-taking, discourages investment and innovation, and adds damaging complexity for businesses.
    “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 of Australia • Senator • 24 June 2026

    Read the full speech in Hansard ↗
  35. Matt O'Sullivan 2 contributions O'Sullivan opposes the bill, saying it breaks Labor's election promise not to change capital gains taxTax paid on the profit made when an asset such as an investment property, shares or a business asset is sold. or negative gearingA tax arrangement where an investor's rental property costs exceed rental income and the loss can reduce tax on other income; the bill limits when this can be done for residential property. and will hurt Australians trying to build their future.

    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 of Australia • Senator • 23 June 2026

    O'Sullivan opposes the bill, saying it breaks Labor's election promise not to change capital gains taxTax paid on the profit made when an asset such as an investment property, shares or a business asset is sold. or negative gearingA tax arrangement where an investor's rental property costs exceed rental income and the loss can reduce tax on other income; the bill limits when this can be done for residential property. and will hurt Australians trying to build their future. He argues the government misled voters and is pushing an ideological change with Greens support.

    “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 damage junior minerals exploration and hurt mining jobs, investment and future government revenue. He argues the proposed tax changes would drive investors away from early-stage explorers and weaken a major source of Australia's prosperity.

    “Treasury Laws Amendment (Tax Reform No. 1) Bill 2026 represents a significant threat to minerals exploration and the long-term future of Australia's mining industry. This is a front-of-mind issue for me as a senator for Western Australia. My state is the home of mining exploration. The impact disproportionately falls on junior exploration companies, which dominate early-stage mining activities. They account for approximately 70 to 75 per cent of Australia's geological discoveries. Reduced exploration will mean fewer discoveries; fewer discoveries will mean fewer mines; and fewer mines will mean less government revenue, fewer royalty payments, and reduced economic activity across our nation. And make no mistake, this will have an impact on jobs directly and indirectly.”
    Read this contribution in Hansard ↗

Greens

5 speakers · 3 support · 1 oppose · 1 mixed

  1. Barbara Pocock Barbara Pocock says the Greens will support the bill because it modestly winds back investor tax breaks and includes Greens-won amendments, but she argues it is far too limited and that Labor has missed a bigger chance to ease the housing crisis.
    “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 opposes the bill, arguing it only tinkers with negative gearingA tax arrangement where an investor's rental property costs exceed rental income and the loss can reduce tax on other income; the bill limits when this can be done for residential property. and capital gains taxTax paid on the profit made when an asset such as an investment property, shares or a business asset is sold. while protecting existing wealthy property investors and failing to make housing more affordable.
    “Treasury Laws Amendment (Tax Reform No. 1) Bill 2026. Six weeks ago, the day after the budget was released and these tax changes were announced, I said, 'Tinkering around the edges of a broken housing system and spending billions for corporations and the one per cent, that will be the legacy of the Albanese Labor government.' Because tinkering is all they can manage and tinkering is this bill does.”

    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 move against an unfair capital gains taxTax paid on the profit made when an asset such as an investment property, shares or a business asset is sold. break, but he argues Labor’s changes are far too weak to fix the housing crisis.
    “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 arrangement where an investor's rental property costs exceed rental income and the loss can reduce tax on other income; the bill limits when this can be done for residential property. and capital gains taxTax paid on the profit made when an asset such as an investment property, shares or a business asset is sold. breaks, but she argues Labor has badly weakened the reform by grandfatheringA way of protecting existing investments from some new rules, so the changes mainly apply to future investments or future gains. 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 so it can proceed to scrutiny, but they have serious concerns about loopholes and ministerial powers and will decide their final Senate position after the inquiry.
    “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 · 4 oppose

  1. Pauline Hanson 2 contributions Pauline Hanson says One Nation opposes the bill and wants it scrapped because it cuts capital gains taxTax paid on the profit made when an asset such as an investment property, shares or a business asset is sold. discounts and negative gearingA tax arrangement where an investor's rental property costs exceed rental income and the loss can reduce tax on other income; the bill limits when this can be done for residential property., which she argues would punish ordinary property investors and worsen housing and living-cost pressures.

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

    Second reading speech One Nation • Senator • 22 June 2026

    Hanson opposes the bill, arguing its tax changes on capital gains, negative gearingA tax arrangement where an investor's rental property costs exceed rental income and the loss can reduce tax on other income; the bill limits when this can be done for residential property. and business assets would hurt young homebuyers, add red tape and valuations costs, and undermine investment and aspiration.

    “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.”
    Read this contribution in Hansard ↗

    Second reading speech One Nation • Senator • 23 June 2026

    Pauline Hanson says One Nation opposes the bill and wants it scrapped because it cuts capital gains taxTax paid on the profit made when an asset such as an investment property, shares or a business asset is sold. discounts and negative gearingA tax arrangement where an investor's rental property costs exceed rental income and the loss can reduce tax on other income; the bill limits when this can be done for residential property., which she argues would punish ordinary property investors and worsen housing and living-cost pressures.

    “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.”
    Read this contribution in Hansard ↗
  2. Malcolm Roberts Malcolm Roberts says One Nation will oppose the bill unless its capital gains taxTax paid on the profit made when an asset such as an investment property, shares or a business asset is sold. and negative gearingA tax arrangement where an investor's rental property costs exceed rental income and the loss can reduce tax on other income; the bill limits when this can be done for residential property. changes are removed, arguing those measures are a tax grab that hurts younger and older Australians.
    “One Nation is moving an amendment to remove schedule 1, capital gains tax, and schedule 2, negative gearing, from the bill. If that amendment fails, we will oppose this bill.”

    One Nation • Senator • 22 June 2026

    Read the full speech in Hansard ↗
  3. Sean Bell Sean Bell says One Nation will oppose the bill because he sees it as a rushed and broken tax grab that will hit investors, small businesses and younger Australians trying to 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.”

    One Nation • Senator • 22 June 2026

    Read the full speech in Hansard ↗
  4. Tyron Whitten Whitten opposes the bill and says it is a damaging new tax that punishes people who build businesses and invest, while doing nothing real to fix housing affordability.
    “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.”

    One Nation • Senator • 24 June 2026

    Read the full speech in Hansard ↗

Minor parties and independents

3 speakers · 2 support · 1 oppose

  1. Zali Steggall ★ Zali Steggall opposes the bill in its current form, even though she supports parts of it such as limiting negative gearingA tax arrangement where an investor's rental property costs exceed rental income and the loss can reduce tax on other income; the bill limits when this can be done for residential property. and reforming capital gains taxTax paid on the profit made when an asset such as an investment property, shares or a business asset is sold. on investment property.
    “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

    Read the full speech in Hansard ↗
  2. Helen Haines ★ Helen Haines backs the bill because she thinks changing capital gains taxTax paid on the profit made when an asset such as an investment property, shares or a business asset is sold. and negative gearingA tax arrangement where an investor's rental property costs exceed rental income and the loss can reduce tax on other income; the bill limits when this can be done for residential property. is a serious step toward fairer taxation and better housing affordability.
    “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

    Read the full speech in Hansard ↗
  3. David Pocock ★ Pocock says he will back the bill’s tax reforms overall, especially winding back property tax concessions and making the instant asset write-off permanent, but argues the package is rushed and flawed and should be amended to protect startups, low-income taxpayers and families.
    “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

    Read the full speech in Hansard ↗

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