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 the Tax Practitioners Board stronger penalties and powers to deal with tax adviser misconduct, in response to the PwC tax leaks matter. It also makes foreign investors pay capital gains tax on more assets tied to Australian land, with a 50 per cent discount for renewable energy assets, plus changes to merger rules and charity listings. Most debate focused on the renewable energy discount, which the government extended from 2030 to 2040.
Arguments made in support
The government said stronger, graduated penalties will deter misconduct and protect honest tax agents and their clients.
Government members said foreign investors should not pay less tax than Australians on gains from Australian land and resources.
Crossbench MPs and the Greens said the renewable discount must run to 2040 to match long investment timelines and keep clean energy investment flowing.
Speakers welcomed the merger rule fixes as cutting needless red tape, including for venture capital.
Arguments made against, or for changes
The Coalition said the tax change could deter foreign investment in big energy and industry projects, and sought a Senate inquiry, which did not happen.
Coalition and One Nation senators asked why only renewable energy investors get a discount, and called the 2040 extension a deal with the Greens.
One Nation moved to remove the renewable discount entirely, saying it costs taxpayers and favours foreign companies.
Some crossbench MPs said the change was not just a clarification and existing investors deserved fairer transition rules.
Speakers criticised bundling eight unrelated schedules into one bill.
95 speeches by 32 members in the House and Senate over 5 sitting days.
Hansard: House of Representatives, 2 July 2026 ›
The official Hansard (PDF), Parliament of Australia
Hansard: House of Representatives, 19 Aug 2026 ›
The official Hansard (PDF), Parliament of Australia
Hansard: House of Representatives, 20 Aug 2026 ›
The official Hansard (PDF), Parliament of Australia
Hansard: Senate, 7 Sept 2026 ›
The official Hansard (PDF), Parliament of Australia
Hansard: Senate, 10 Sept 2026 ›
The official Hansard (PDF), Parliament of Australia
Includes votes on amendments and procedure.