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

Senator CHANDLER (Tasmania) (11:57): Right. Well, I'm glad that we finally do have a response to that question from the minister, given it was a question that we asked during Senate estimates. It was a question that we asked during the committee inquiry, and it was quite staggering that we went through that two-day inquiry and were unable to get a cost breakdown from Treasury in relation to the revenue that those changes would bring in.

So, to be very clear, the $3.6 billion in the budget, 85 per cent of that is attributable to the negative gearing changes and 15 per cent of that is attributable to the capital gains tax changes? I just want to be very clear that that's what you're telling this chamber, Minister.