2026-05-28
Labor’s proposed changes to the capital gains tax and negative gearing will be examined at a Senate inquiry, giving the Bill the scrutiny it deserves.
Because the legislation has provisions that are due to commence July 1 this year, it has been automatically referred to the Senate Economics Legislation Committee, with a report due by June 22.
This process may inform the shape of the bill to be considered by the Senate.
Comments attributable to Greens Economic Justice Spokesperson Senator Nick McKim:
“We will use this inquiry to examine how and why Labor decided to leave in place the vast majority of tax handouts for the ultra wealthy.”
“As with so many parts of Labor’s budget, this bill is a missed opportunity to finally put people ahead of profits and make the ultra-wealthy pay their fair share.
“Labor’s extremely generous grandparenting provisions have left so much money on the table.”
Comments attributable to Greens Leader Senator Larissa Waters:
“These are very significant changes to our tax system, and will go through the inquiry process to ensure they get the scrutiny they need.
“We are hearing countless young people and first homebuyers express their frustration that Labor is letting wealthy property investors keep billions in handouts - an inquiry will help examine the consequences of Labor’s decision on grandfathering."