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

The SPEAKER (11:55): In accordance with the resolution agreed to earlier, the question now is that amendments (1) to (4) circulated by the member for Wentworth be agreed to. M ember for Wentworth's circulated amendments— (1) Schedule 1, page 9 (after line 13), after item 7, insert: 7A At the end of Division 102 Add: 102-31 Income averaging (1) The regulations may provide for or in relation to the proportional allocation, by individuals, of capital gains over the shorter of: (a) the period for which the individual holds the relevant *CGT asset; and (b) a period of 10 years.

(2) Regulations made for the purposes of subsection (1) may directly amend the text of this Act. (2) Schedule 1, page 9 (before line 14), before item 8, insert: 7B After section 110-10 Insert: 110-11 Indexation of capital losses (1) The regulations may provide for or in relation to indexing the *reduced cost base of a *CGT asset. (2) Regulations made for the purposes of subsection (1) may directly amend the text of this Act.

(3) The Minister must take reasonable steps to ensure that regulations are in force for the purposes of subsection (1) within 6 months after the commencement of this section. (3) Schedule 1, Part 2, page 40 (line 1) to page 43 (line 26), omit the Part. (4) Schedule 1, Part 4, page 47 (after line 24), at the end of the Part, add: 84A Application of amendments — active assets The amendments made by this Schedule do not apply in relation to a *CGT asset that is an *active asset.