Appropriation Bill (No. 1) 2026-2027, Appropriation Bill (No. 2) 2026-2027, Appropriation (Parliamentary Departments) Bill (No. 1) 2026-2027; Second Reading

Templeman outlined the budget's objectives to make home ownership easier, cut income taxes, and align tax treatment of income and assets. Templeman detailed new tax deductions, the Working Australians Tax Offset, and permanent instant asset write-offs for small businesses, arguing these measures provide meaningful relief. Templeman emphasised housing reforms, including negative gearing changes restricted to new builds, and investments in health care, such as Medicare urgent care clinics and bulk-billing incentives. Templeman also highlighted fuel security measures and support for the construction workforce through TAFE centres of excellence.

Gee expressed disappointment over the lack of federal support for businesses affected by the Great Western Highway closure and the absence of funding for a veterans' wellbeing centre in Bathurst. Gee criticised the budget for failing to address regional infrastructure needs and for cutting the age-based private health insurance rebate for seniors. Gee argued that the capital gains tax changes would discourage enterprise and that the government should have sought a mandate for such reforms at the election. Gee also called for a 25 per cent tax on gas exports to generate revenue for regional projects.

Cook highlighted the budget's cost-of-living relief, including cheaper medicines, permanent Medicare urgent care clinics, and investments in women's health and public schools. Cook discussed housing affordability measures, such as the five per cent deposit scheme and support for new home construction, alongside climate action initiatives like the Cheaper Home Batteries Program. Cook shared positive feedback from constituents regarding health services and community programs, including men's health conversations and reconciliation efforts. Cook emphasised the budget's support for small businesses through tax relief measures.

Pasin criticised the budget for record spending and high taxes, noting constituent anger over the government's celebration of these measures. Pasin highlighted the lack of support for the struggling wine industry and the cancellation of the Wine Tourism and Cellar Door Grant program. Pasin called for the Greater Adelaide Freight Bypass to remove heavy vehicles from suburbs and criticised cuts to regional communications funding. Pasin outlined the Coalition's alternative plan, including indexing tax thresholds to inflation, capping migration based on housing supply, and restricting welfare payments to citizens.

Thistlethwaite argued that the tax reforms address unaffordable housing, low productivity, and an ageing population by incentivising productive work over asset holding. Thistlethwaite clarified that existing investment properties are grandfathered under negative gearing changes, which now apply only to new builds, and explained capital gains tax reforms including indexation of the cost base and a minimum rate of 30 per cent. Thistlethwaite detailed small business exemptions and new support measures, such as loss carry-back provisions and startup refunds. Thistlethwaite concluded by presenting the improved budget bottom line and favourable international comparisons of Australia's debt and deficit levels.

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McCormack argued the budget represented broken promises, particularly regarding regional Australia and agricultural policy. McCormack criticised the government for changing rules on trusts and capital gains tax despite previous assurances, and for purchasing water from the consumptive pool, which he claimed distorted markets and harmed river communities. McCormack highlighted a reduction of $191.6 million in pest eradication funding and cuts to the Local Roads and Community Infrastructure Program. McCormack also pointed to a $21.4 million cut in regional communications funding, alleging bias towards Labor-held seats, and called for greater accountability for the Commonwealth Environmental Water Holder.