Question Time AU

Bill Debate · Second Reading

Treasury Laws Amendment (Tax Reform No. 1) Bill 2026; Second Reading

House of Representatives · Tuesday 2 June 2026

Continued from Thursday 28 May 2026.

Official Hansard for this day (APH) · Read this debate on OpenAustralia

At a glance

The Leader of the Opposition opposed the bill, arguing it imposed unmandated tax increases on negative gearing and capital gains tax that would reduce housing supply and harm economic aspiration. He contended that the legislation granted excessive ministerial discretion and bundled popular tax cuts with controversial increases to bypass scrutiny. The Opposition proposed amendments to retain the income tax cuts and work-related expense deductions while removing the negative gearing and capital gains tax changes. The speech concluded with a call for the government to adopt the Coalition's policy of indexing tax thresholds to inflation to prevent bracket creep.

Summary in reported speech - not a transcript. AI-generated, so check the official record before quoting.

How the debate unfolded

Continued the debate

Angus Taylor (Hume) (Liberal Party) Liberal

Taylor argued that the government lacked a mandate for the proposed tax increases, citing previous election promises to maintain the status quo on negative gearing and capital gains tax. Taylor claimed the changes would reduce new housing supply by 35,000 units and increase rents, referencing budget papers and independent modelling from industry bodies. Taylor criticised the bill for granting the Treasurer broad discretion to determine exemptions and adjust tax cuts without parliamentary scrutiny, describing this as a lack of transparency. Taylor opposed the removal of the 50 per cent capital gains tax discount, arguing it penalised savings and investment across various asset classes. Taylor supported the retention of the $250 annual income tax cut and the $1,000 work-related expense deduction but sought to remove the tax increase measures from the legislation.