Treasury Laws Amendment (Tax Reform No. 2) Bill 2026

Stage by Stage

Summaries in reported speech - not a transcript. In date order, both chambers.

1. Thursday 25 June 2026 · House of Representatives

   Second Reading

   The Treasurer introduced the bill to implement permanent tax reforms for businesses, including loss carry-back and instant asset write-offs. The legislation also provides tax exemptions for staff of the Papua New Guinea Chiefs rugby league team. The debate was adjourned after the Treasurer's opening speech, with no other members speaking.

   Outcome: Debate adjourned.

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2. Tuesday 18 August 2026 · House of Representatives

   Consideration in Detail
   See who spoke

3. Tuesday 18 August 2026 · House of Representatives

   Second Reading
   See who spoke

4. Tuesday 18 August 2026 · House of Representatives

   Third Reading
   See who spoke

5. Wednesday 19 August 2026 · Senate

   First Reading
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6. Wednesday 19 August 2026 · Senate

   Second Reading

   The Senate debated the Treasury Laws Amendment (Tax Reform No. 2) Bill 2026, which introduced loss carry-back provisions, made the $20,000 instant asset write-off permanent, provided tax exemptions for PNG Chiefs rugby league staff, and amended negative gearing rules to protect assets transferred due to death or relationship breakdown. The government argued these measures supported business resilience and investment while correcting unintended consequences of earlier tax reforms. Opposition members criticised the government for initially legislating changes that penalised widows and those undergoing divorce, describing the current bill as a forced capitulation after sustained pressure. Despite these criticisms, the coalition indicated support for the bill's business measures while noting the threshold for asset write-offs was too low.

   Outcome: The bill was passed by the Senate.

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