Declare Labor's tax package a 'toxic' burden on hard work and investment — back it or block it?

Coalition Senator Richard Colbeck moved an urgency motion demanding the government explain why Australians are 'paying the price' for what he calls a toxic tax agenda struck through a deal with the Greens. The dispute centres on changes to capital gains tax and negative gearing, plus other budget tax measures. The Coalition says the changes break election promises and hurt young savers, small businesses and self-managed super funds. Labor says its budget cuts taxes for millions of workers and steers negative gearing toward new housing. The Greens say the real problem is that Labor won't tax gas corporations and is instead squeezing disabled Australians via NDIS cuts. The Senate voted the motion down 22 to 32.

🗳 A public mood-check, not a scientific poll. Vote to reveal how the chamber voted.

🗳 be the first to weigh in🏛 39m debated

📄 Senate Hansard, 23 Jun 2026 — Taxation

drill in ▸close ▾

The strongest case each way

For · CoalitionRichard Colbeck said Labor promised no changes to capital gains tax and negative gearing but broke that word in a deal with the Greens, making it harder for young people to save for a home and, per the budget papers, meaning 35,000 fewer houses built and higher rents.

For · CoalitionAndrew Bragg and Maria Kovacic argued the package imposes a minimum 30% capital gains tax with nothing to offset high income taxes, hitting share investors, small businesses and self-managed super funds while sparing industry super funds and institutional investors.

Against · Government (Labor)Corinne Mulholland and Carol Brown said the motion defends property investors over workers: Labor's budget cuts taxes for more than 13-14 million Australians, adds a $1,000 instant deduction, protects existing investments and directs future negative gearing to new homes, and keeps generous CGT concessions for 2.7 million small businesses.

Against · Australian GreensSteph Hodgins-May called the agenda toxic for a different reason — she said Labor refuses to properly tax multinational gas corporations (over $17 billion a year) and is instead forcing disabled Australians to bear the budget through NDIS cuts.