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

The PRESIDENT (10:17): I will now deal with the remaining second reading amendments circulated by the opposition. The question is that the amendments on sheet 3884, 3887 and 3892 be agreed to. Opposition's circulated amendments— SHEET 3884 Omit all words after "That", substitute "the Senate (a) notes that: (i) the Government is reducing housing supply in the midst of a housing crisis, (ii) the Government's higher taxes mean 35,000 fewer homes, higher rents and less housing investment, (iii) the Government's higher taxes add to the cost of housing, with existing taxes, fees and charges already adding up to 50 per cent to the cost of a new home, and (iv) the Government is already more than 100,000 dwellings behind its own 1.2 million housing target and is projected to miss the target by well over 200,000 dwellings; and (b) calls on the Government to introduce legislation to ban APRA-regulated super fund investment in residential property". _____ SHEET 3887 Omit all words after "That", substitute "the Senate notes that: (a) the Economics Legislation Committee inquiry into this bill was a rushed sham; (b) the inquiry did not have enough time to enable the committee to consider hundreds of submissions; (c) Treasury officials refused to provide evidence, refused to undertake basic preparations for their appearance and refused to table answers to questions on notice within a reasonable timeframe; and (d) the Treasurer announced amendments one day after the committee concluded its hearing, making a mockery of transparency, scrutiny and proper parliamentary process". _____ SHEET 3892 Omit all words after "That", substitute "the Senate notes that: (a) the Government's higher taxes will starve junior minerals explorers of capital; (b) 75% of Australia's economic mineral discoveries are made by small and mid-tier explorers who rely on investors willing to back high-risk projects; (c) discovery to production can take 15 years and therefore Australians will pay the price for decades to come of exploration drying up; and (d) the Government has already hit the resources sector by cutting the highly successful Junior Minerals Exploration Incentive".