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

Senator HANSON (Queensland—Leader of One Nation) (19:58): I've got to reply to this because it's just absolutely ridiculous that this is for the young ones. It's not. It's ripping the guts out of the young ones.

Just to make the comment, this capital gains tax can only be, or negative gearing, on new homes. What you're doing is forcing young ones to move away from areas that they've actually grown up in—away from their parents, away from that support. If you wanted to negatively gear a house that you may want to move into in the future, it might be way out somewhere, away from family.

You're not giving them a choice or an opportunity to buy a house where they want to buy the house. That is not helping the young ones at all, so this is just ridiculous—to actually tax businesses at 30 per cent. Then, from next year, they're going to have to get valuations done on their property—more cost to everyone.

And then it's got to be indexed. This is more compliance and red tape that you're putting onto everyone again. You reckon you're helping everyone.

You're not helping anyone at all with this tax. This budget that you've handed down is going to destroy aspiration. It's going to destroy it for the young ones who actually invest in shares or whatever they may want to do, and to buy their own homes.

Debate interrupted.