Jim Chalmers (Rankin, Australian Labor Party, Treasurer) | Hansard source

The point I'm making is this: those opposite want to pretend that these are unusual arrangements. They're not. And the reason they want to pretend these are unusual arrangements is that they can't defend their actual position, which is to go to the wall for a broken status quo that locks too many Australians—particularly, too many young Australians—out of the housing market. We know that that's the outcome they seek. We know that they want young people locked out of housing. We know that they'll vote against tax cuts, and all of this pretending that these are somehow unusual arrangements is designed to avoid coming at the actual objectives of this legislation, which are to cut income taxes for workers, to make it easier for first home buyers in the system and to better align the tax treatment of income earned from working and income earned from assets.

When it comes to this particular definition, we made it very clear in the budget papers that investments in new dwellings will be exempt from these changes where the investment genuinely adds to housing supply. We made it clear what that would be. That's set out in the budget papers. The legislation provides for these details to be finalised in an instrument, which is a standard approach for these kinds of details in legislation like this.

See this speech in context