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Senate · Thursday 14 May 2026

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

At a glance

Senators debated the government's budget responses concerning housing affordability and tax policy. Opposition senators argued that removing negative gearing and altering capital gains tax would reduce housing supply and increase rents, citing low vacancy rates and high immigration. Government senators defended the budget as a necessary reform to assist young Australians, highlighting investments in social housing and the five per cent deposit scheme. The debate concluded with the motion being agreed to.

Outcome

Question agreed to.

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

How the debate unfolded

Opened the debate

Cadell argued that the government's budget papers indicated a reduction of 35,000 homes due to taxation policies. Cadell contended that removing negative gearing in a market with vacancy rates below two per cent and high immigration would cause rents to rise significantly, contrary to government projections. Cadell cited historical examples from Sydney, Perth, and New Zealand where similar policies led to rent increases. Cadell asserted that the policy disadvantaged young people seeking to enter the property market while benefiting politicians who already held assets.