What was debated in Parliament
Summarised using AI from the official Hansard transcript of the debate only. It is not a record of the debate and may leave things out. Read the Hansard below to check it.
This bill gives workers a yearly tax offset of up to $250 and a $1,000 instant deduction for work expenses. It also replaces the 50 per cent capital gains tax discount with inflation indexing and a 30 per cent minimum tax, and limits negative gearing on newly bought existing homes to new builds. The debate focused on housing, fairness between wages and investment income, and how the bill was put together.
Arguments made in support
The government said the bill cuts tax for over 13 million workers and puts more money in their pockets.
Government members said limiting negative gearing and changing capital gains tax would help about 75,000 more people buy their first home over ten years.
The Treasurer said indexing gains to inflation treats all investments the same and means some people will pay less tax.
The government said small business tax concessions stay in place and current property owners keep their negative gearing until they sell.
Independent members Zali Steggall and Allegra Spender said they backed the aim of reforming housing tax settings.
Arguments made against, or for changes
Coalition speakers said the government had no election mandate and had ruled out these changes before the election.
The Coalition argued the negative gearing changes would reduce housing supply and raise rents, citing the budget papers and industry modelling.
The Coalition supported the tax cuts but moved to remove the capital gains and negative gearing parts, and called for tax brackets to be indexed to inflation.
Coalition speakers said the bill gave the Treasurer too much power to decide details without Parliament.
Independent members moved amendments to limit the capital gains changes to property, protect active businesses and small businesses, and said the bill was rushed.
31 speeches by 12 members in the House over 5 sitting days.
Hansard: House of Representatives, 28 May 2026 ›
The official Hansard (PDF), Parliament of Australia
Hansard: House of Representatives, 2 June 2026 ›
The official Hansard (PDF), Parliament of Australia
Hansard: House of Representatives, 4 June 2026 ›
The official Hansard (PDF), Parliament of Australia
Hansard: House of Representatives, 25 June 2026 ›
The official Hansard (PDF), Parliament of Australia
Hansard: House of Representatives, 29 June 2026 ›
The official Hansard (PDF), Parliament of Australia
Includes votes on amendments and procedure.