The time for the debate has now concluded. There are 10 minutes available, and we'll make sure that each mover of an amendment does get 10 minutes to speak. The question now is the amendments circulated by the member for New England be agreed to.

A division having been called and the bells having been rung—

As there are fewer than seven members on the side of the ayes in this division, I declare the question negated in accordance with standing order 127. The names of those members who are in the minority will be recorded in the Votes and Proceedings.

Question negatived.

The question now is that the amendment circulated by the member for Wentworth be agreed to.

Member for Wentworth's circulated amendment—

(1) Schedule 1, page 48 (after line 22), at the end of the Schedule, add:

Part 5 — Independent review

31 Review of capital gains tax amendments

(1) The Minister must cause an independent review to be conducted of the operation of:

(a) the amendments made by this Schedule; and

(b) the amendments made by Schedule 1 to the Treasury Laws Amendment (Tax Reform No. 1) Act 2026 relating to cost base indexation and the minimum tax on capital gains.

(2) Without limiting subitem (1), the review must consider the effects of the amendments on investment, formation and employment in start-up and scale-up companies and small businesses more broadly.

(3) The review must commence as soon as practicable after 1 July 2028.

(4) The review must be completed, and a written report of the review must be given to the Minister, within the period of 6 months starting on the day when the review commences.

(5) The Minister must cause a copy of the report of the review to be tabled in each House of the Parliament within 15 sitting days of that House after the Minister receives the report.

(6) In this item:

Minister means the Minister administering the Income Tax Assessment Act 1997.