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

Senator GALLAGHER (Australian Capital Territory—Minister for Finance, Minister for the Public Service, Minister for Women, Minister for Government Services and Manager of Government Business in the Senate) (12:51): I don't know how we take things on notice in this process. There was advice provided following the committee inquiry hearings where this issue was raised, and I would expect that the costing—an indicative costing—would have come alongside or just after that.

The Treasurer did say, in his media conference when announcing this, that it's an indicative costing and it will be updated in the Mid-Year Economic and Fiscal Outlook at the end of the year, as is normal for any decisions taken post-budget. We update them in the next economic update.