Kevin Hogan (Page, National Party, Deputy Manager of Opposition Business in the House) Share this | Link to this | Hansard source

My question is to the Treasurer. Why is the Albanese Labor government introducing a 50 per cent capital gains tax discount for foreign multinationals investing in renewable energy projects, saving them $450 million, while taxing hardworking Australian mum-and-dad investors more?

Jim Chalmers (Rankin, Australian Labor Party, Treasurer) Share this | Link to this | Hansard source

The member is referring to the transitional arrangements in the renewable energy sector where we're moving from a more generous treatment to a less generous treatment over time. He's not quite accurately representing the situation. What we're doing in capital gains for foreign investors is equalising the arrangement because it was too generous to foreign investors. We're making it more consistent with the tax paid by Australians, and that means, in some important areas of the economy, a transition from the existing arrangements to the new arrangements—just like in the capital gains tax changes we announced last night; there are transitional arrangements there too.