Greens signal they will help Labor push capital gains changes through in weeks
Treasurer Jim Chalmers introduced a capital gains tax bill in parliament today, with Greens signalling support that could see it pass before the winter recess. The change tightens exemptions tied to second investment dwellings. This article is not tax or investment advice.
Reporting from Canberra for ABC News Australia, Treasurer Jim Chalmers tabled the capital gains tax (CGT) reform bill at the opening of parliament today. The measure removes the 50 percent loss-deduction benefit for second investment dwellings and recasts the 12-month holding-period exemption. The government estimates the change will deliver an additional 4.2 billion AUD in annual revenue.
Greens Senate leader Larissa Waters said her party 'supports the bill in its main outlines but the transition window for existing owners should be debated'. Liberal opposition leader Sussan Ley argued the measure 'penalises middle-class investors'; real estate body REIA warned the change 'could tighten the supply of rental homes'. ABC presented those views with equal weight.
Reserve Bank Governor Michele Bullock said ahead of the June meeting that the tax package was 'not inflationary' but that sector expectations surveys would be watched closely. If the bill passes before the winter recess, it would take effect from 1 September 2026. This article should not be used as guidance for tax, personal finance or investment decisions.
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