Treasury Laws Amendment (Strengthening Accountability for Tax Adviser Misconduct and Other Measures) Bill 2026

Senator DEAN SMITH (Western Australia) (18:10): Minister, in the May budget, it's true to say that the government took the 50 per cent CGT discount away from small businesses and everyday Australians and in this bill now provides a 50 per cent capital gains tax discount for foreign investors in renewable energy projects until 2040. That's a correct statement, isn't it?

Senator Ayres: I'm all ears, Senator. Senator Dean Smith: So that's a correct statement? The TEMPORARY CHAIR ( Senator Scarr ): Minister, would you like Senator Smith to repeat the question?

Senator Ayres: Well, when I said I was all ears, I wasn't listening that closely, Senator Smith. You should perhaps get me to focus! The TEMPORARY CHAIR: Senator Smith, you've been given that task by the minister!

Senator DEAN SMITH: Minister, in the most recent budget, it's true to say that the government took the 50 per cent CGT discount away from small businesses and everyday Australians and that this bill now provides a 50 per cent capital gains discount for foreign investors in renewable energy projects until 2040. That's a correct statement?