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) (13:29): Senator Cadell, cars and motor vehicles are exempt from CGT, and this includes vintage or classic cars. This is not changing. Those current arrangements apply.

It's clear on the ATO website. An ATO determination sets out that even where a car is a collectable, it still remains a car for the purposes of this exemption, and any CGT is disregarded. The TEMPORARY CHAIR ( Senator Cox ): Senator Hanson, are you seeking the call?