Division
Milton Dick In accordance with the resolution agreed to earlier, the question now is that the amendment circulated by the member for Warringah be agreed to. _Member for Warringah's circulated amendment—_ (1) Schedule 1, page 47 (before line 2), before item 82, insert: 81A Application of amendments — general The amendments made by this Schedule apply only in relation to CGT assets that are real property. Zali Steggall The government argues that this legislation is about making the tax system fairer between income earned from wages and income earned from passive investments. But that framing is too simplistic. A capital gain is often realised only after many years of risk, delayed reward, reinvestment, losses or uncertainty. If we want an economy that backs enterprise, innovation and productivity, we must recognise and reward responsible risk-taking. I support the principle of reforming housing tax settings. Negative gearing and capital gains tax concessions have too often encouraged investment into established housing rather than new supply, and that has contributed to a market where too many young Australians are locked out. That is why I support the bulk of this legislation, schedules 2, 3 and 4. But schedule 1 requires amendment, and that is the amendment I have moved. This bill goes much further than housing. It extends the CGT changes across shares, ETFs, managed funds, startups, small and larger business assets, employee equity trusts and family business succession. If the government's policy target is speculative investment in established housing, then the legislation should target that. It should not drag productive investment, business risk-taking and modest long-term savings into the same net. The government has framed this package as reform for workers, first home buyers and future generations. But the concerns raised consistently with me in Warringah are that the CGT changes are not properly targeted. Young professionals, small-business owners, startup fo
House of Representatives, 2026-06-04. negative: ayes 7, noes 104.
Question
Milton Dick In accordance with the resolution agreed to earlier, the question now is that the amendment circulated by the member for Warringah be agreed to. _Member for Warringah's circulated amendment—_ (1) Schedule 1, page 47 (before line 2), before item 82, insert: 81A Application of amendments — general The amendments made by this Schedule apply only in relation to CGT assets that are real property. Zali Steggall The government argues that this legislation is about making the tax system fairer between income earned from wages and income earned from passive investments. But that framing is too simplistic. A capital gain is often realised only after many years of risk, delayed reward, reinvestment, losses or uncertainty. If we want an economy that backs enterprise, innovation and productivity, we must recognise and reward responsible risk-taking. I support the principle of reforming housing tax settings. Negative gearing and capital gains tax concessions have too often encouraged investment into established housing rather than new supply, and that has contributed to a market where too many young Australians are locked out. That is why I support the bulk of this legislation, schedules 2, 3 and 4. But schedule 1 requires amendment, and that is the amendment I have moved. This bill goes much further than housing. It extends the CGT changes across shares, ETFs, managed funds, startups, small and larger business assets, employee equity trusts and family business succession. If the government's policy target is speculative investment in established housing, then the legislation should target that. It should not drag productive investment, business risk-taking and modest long-term savings into the same net. The government has framed this package as reform for workers, first home buyers and future generations. But the concerns raised consistently with me in Warringah are that the CGT changes are not properly targeted. Young professionals, small-business owners, startup fo
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