Nick McKim (Tasmania, Australian Greens) Share this | Hansard source

I seek leave to amend general business notice of motion No. 163.

Leave granted.

I move the motion as amended:

(1) That a select committee, to be known as the Select Committee on the Operation of the Capital Gains Tax Discount, be established to inquire into and report on:

(a) the contribution of the capital gains tax (CGT) discount to inequality in Australia, particularly in relation to housing;

(b) the role of the CGT discount in suppressing Australia's productivity potential by funnelling investment into existing housing assets;

(c) how the CGT discount influences the types of assets purchased and whether these classes of investments are productive or speculative;

(d) the distributional effects of the CGT discount;

(e) the use of the CGT discount by trusts;

(f) whether this tax discount is fulfilling its original intended purpose;

(g) whether the CGT discount has a role in Australia's future tax mix; and

(h) any other related matters.

(2) That the committee present its final report by 17 March 2026.

(3) That the committee consist of 5 senators, as follows:

(a) two nominated by the Leader of the Government in the Senate;

(b) two nominated by the Leader of the Opposition in the Senate; and

(c) one nominated by the Leader of the Australian Greens.

(4) That:

(a) participating members may be appointed to the committee on the nomination of the Leader of the Government in the Senate, the Leader of the Opposition in the Senate or any minority party or independent senator; and

(b) participating members may participate in hearings of evidence and deliberations of the committee, and have all the rights of members of the committee, but may not vote on any questions before the committee; and

(c) a participating member shall be taken to be a member of a committee for the purpose of forming a quorum of the committee if a majority of members of the committee is not present.

(5) That the committee may proceed to the dispatch of business notwithstanding that all members have not been duly nominated and appointed and notwithstanding any vacancy.

(6) That the committee elect as chair a member nominated by the Leader of the Australian Greens and, as deputy chair, a member nominated by Leader of the Government in the Senate.

(7) That the deputy chair shall act as chair when the chair is absent from a meeting of the committee or the position of chair is temporarily vacant.

(8) That the chair, or the deputy chair when acting as chair, may appoint another member of the committee to act as chair during the temporary absence of both the chair and deputy chair at a meeting of the committee.

(9) That, in the event of an equally divided vote, the chair, or the deputy chair when acting as chair, have a casting vote.

(10) That the committee have power to send for and examine persons and documents, to move from place to place, to sit in public or in private, notwithstanding any prorogation of the Parliament or dissolution of the House of Representatives, and have leave to report from time to time its proceedings and the evidence taken and such interim recommendations as it may deem fit.

(11) That the committee be provided with all necessary staff, facilities and resources and be empowered to appoint persons with specialist knowledge for the purposes of the committee with the approval of the President.

(12) That the committee be empowered to print from day to day such papers and evidence as may be ordered by it, and a daily Hansard be published of such proceedings as take place in public.