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

Senator AYRES (New South Wales—Minister for Industry and Innovation and Minister for Science) (18:16): The legislation is all about strengthening the system. It will raise significant revenue over time, and it will ensure, for example, that foreign residents pay a fair share of tax in Australia. The amendments that we've moved have a modest cost of around one-seventh of the overall revenue and more closely align the transitional arrangements with investment horizons that are typical of these kinds of large-scale renewable energy projects.

That is the rationale that sits behind this important piece of work. As I indicated before, foreign investors generally don't get any CGT discount. The arrangements in this legislation are really about providing an appropriate transitional framework or transitional period for investments that have already been made.