House debates Bills

Treasury Laws Amendment (Tax Reform No. 4) Bill 2026; Consideration in Detail

Thursday, 29 October 2026 House of Representatives

Tim Wilson

Tim Wilson Goldstein, Liberal Party, Shadow Treasurer

11:43 am

I pick up exactly where the member for Kooyong made her remarks. Her remarks were that this amendment is designed to make sure that there's proper consultation in this legislation and its effect and to not give unrelenting power to the minister. Of course, that has a very good basis. We should see more of that. There's just one fundamental problem, which is that the Australian people were never consulted in this legislation and its development. The Australian people were actually told this legislation was not going to be introduced before the last election. In fact, I believe it was 50 times over, to quote one eminent political figure, otherwise known as the Prime Minister. Now we have this additional tax, this extra tax burden, that is hitting research and development of the future of our country. Speaker, I don't know about you, but I cannot think of anything more outrageous than a direct tax assault on the initiative research basis of this country if we want to have an economy that is global, that is outward looking, that is competitive and has a focus on building the jobs and economic opportunity in the future of this nation. Instead, what we have is the cosy relationship and provision of a gliding pathway by certain MPs, teal MPs, Community Strong MPs—whatever we want to call them—and the government to increase taxes on the Australian people, particularly on research and development businesses.

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