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

Senator CHANDLER (Tasmania) (11:59): Sure. But there is a difference between saying the majority of the revenue stream was attributable to the negative gearing changes and actually having some numbers to put behind that, Minister, so I do thank you for providing that information to the chamber today finally. Minister, we heard extensive evidence during the committee inquiry that estimated that the compliance costs or the regulatory burden to implement these changes and to ensure that businesses are able to comply with these changes would be upwards of $500 million per annum.

I think it was CPA Australia that gave that estimate to the committee. How can we justify the $88 million per annum regulatory burden estimate that the Treasury has provided when witnesses to the committee were saying that it was going to cost, as I said, well north of half a billion dollars per annum?