Portfolio — 5 August 2026

The Treasurer, Dr Chalmers, issued two media releases on 5 August that together project economic momentum and reform implementation. One release highlighted record business formation data; the other opened consultation on the next technical stage of the negative gearing and capital gains tax reforms from the 2026-27 Budget.

**Record company registrations**

The Treasurer announced that 44,040 new companies registered in July 2026, setting a new monthly record [TA-260804-treasu-27568d62aa14]. This marks only the second time since 1999 that monthly registrations have exceeded 40,000. The release positions business creation as evidence of economic growth, supplying a positive macro indicator the portfolio is foregrounding alongside its reform agenda.

**Tax reform consultation**

Dr Chalmers released exposure drafts for the Treasury Laws Amendment (Tax Reform No. 3) Bill 2026, opening public consultation on the complex elements of the negative gearing and capital gains tax reforms announced in the 2026-27 Budget [TA-260804-treasu-7c6085dd58d8]. The exposure draft stage marks the transition from budget announcement to legislative drafting, inviting stakeholder input on the technical design of provisions affecting housing supply and investor treatment.

The bill's numbering as "Tax Reform No. 3" indicates it is the third in a sequence of tax reform amendment instruments the Government is progressing.

**Synthesis**

The two releases operate in tandem. The business creation data supplies a growth credential the Treasurer can cite while advancing the housing tax reform package through its consultation phase. The exposure draft release signals the Government is proceeding with implementation of the negative gearing and capital gains tax changes first announced in the 2026-27 Budget.

Together the releases frame the Treasurer's positioning as combining evidence of economic expansion with delivery on structural tax reform. The portfolio's approach pairs the release of business creation data to highlight economic growth with the continuation of tax reform implementation through targeted consultation on housing supply and investor treatment.