Formally accuse Labor of misleading voters by raising taxes it promised not to — back it or block it?

Senator Andrew Bragg (Coalition) moved an urgency motion asking the Senate to declare that the Albanese Government misled Australians before the election by promising no tax rises, then pursuing higher taxes on superannuation, savings, investments and small business. The debate centred on Labor's move to change the capital gains tax discount, cut negative gearing benefits and apply a 30 per cent rate. The Coalition and One Nation argued the changes broke election promises, would raise rents, deter investment and shut young people out of concessions. Labor said it is reforming an unfair concession that mostly benefits the wealthiest and is already cooling house prices; the Greens said neither major party makes billionaires pay their fair share. The Senate voted it down 24 to 33.

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📄 Senate Hansard, 22 Jun 2026 — Budget

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The strongest case each way

For · CoalitionSenator Bragg called the government's tax policy "an absolute dog's breakfast" and said a 30 per cent capital gains tax would kill jobs and investment while super funds pay only 10 per cent. Senator Kovacic said the Prime Minister promised "50 times" no changes to negative gearing and CGT, then changed both after the election, and that young people are now denied the concessions older Australians used to build wealth.

For · One NationSenator Hanson called the budget a "$77 billion tax grab" and "a litany of broken promises" that would hurt farmers, small businesses and renters, and pledged One Nation would reverse the capital gains tax changes and restrict negative gearing to two houses.

Against · Government (Labor)Senator Darmanin said the motion rests on a false premise: this is not a new tax but reform of a 26-year-old discount, with evidence showing 82 per cent of its benefit flows to the top 10 per cent of earners. Senator Ananda-Rajah said the changes are already cooling the $12 trillion housing market and that polling shows 54 per cent of Australians, and 60 per cent of under-35s, support them.

Against · Australian GreensSenator McKim said the real problem is that the wealthiest 1 per cent and big corporations effectively pay no tax while workers pay their share, and accused Labor, the Coalition and One Nation alike of being "in the pockets of the one per cent."