Opened the debate
Pocock supported the government's decision to grandfather existing capital gains tax and negative gearing rules, acknowledging that investors relied on previous regulations. Pocock argued that housing should be treated as accessible accommodation rather than an investment vehicle, while noting that new home purchases would still receive incentives. However, Pocock criticised the rapid passage of the legislation without due process. Pocock called for proper grandfathering that protects spouses in cases of death or divorce from being treated as selling an investment property. Additionally, he urged the government to close tax loopholes for trusts while ensuring small businesses operating in good faith were not penalised.