Tammy Tyrrell (Tasmania, Independent) Share this | Hansard source

Last night, Treasurer Chalmers handed down a budget that we've talked about for a very long time at kitchen tables in Hobart, at farm gates in the Midlands and in back offices in small businesses across the state. My job, as always, is to cut through the spin from both sides and tell Tasmanians plainly what it means for them.

It's the budget we had to have. Overall, the plan is well considered, albeit a little bit painful. Short-term pain for the upper middle class is likely to put Tasmanians in a better position in the long term and activate the course correction for up and comers. I know that's cold comfort for those who will feel the pinch from changes to negative gearing, capital gains tax and discretionary trusts, but our tax system has drifted over many years in a direction that favours those who already have wealth over those who are trying to build it, and that needed correcting. This budget makes a genuine start.

On small business, I proposed expanding the instant asset write-off for small businesses, and that's been adopted—yay! Businesses with turnover of up to $10 million can now permanently write off eligible assets of up to $20,000 without the uncertainty of annual renewals. There will be no more waiting to see if the write-off is there at the next budget. That is a real and lasting benefit for the tradespeople, retailers and hospitality operators who are the engine room of our Tasmanian economy. Additional funding to Tasmania for our health care and aged-care system is very welcome, and I'm glad that primary production income is exempt from the minimum tax on discretionary trusts. That's a big win for our farmers. The $80 million in additional targeted hospital funding, the Northern Heart Centre in Launceston, the new hospice at the Launceston General Hospital and the $361 million for Marinus Link are all meaningful investments in Tasmania 's future. So too is the funding for Macquarie Point and the Hobart Antarctic wharf precinct, which will create real jobs and real economic opportunity in our capital city. I also welcome the funding for more maternity services in Hobart. Education also had some small wins in Tassie with the new literacy support program for our kids and 20 more Commonwealth supported places per year at UTAS for primary care.

But I will not stand here and tell Tasmanians that it's all sunshine and lollipops. It's not. We should have more in the budget for social housing, for our farmers and for our community organisations in the face of the cost-of-living crisis. There is seemingly no new social housing funding in Tasmania or nationally, and that's not good enough. Housing stress is acute in our state. Tweaks to negative gearing and capital gains tax will have some effect on affordability over time, but they do nothing for the Tasmanian family that needs a roof over its head tonight. Our community organisations picking up the government's slack also needed a far more serious commitment. The agricultural sector deserved a much stronger showing beyond fertiliser security measures. In a state where farming is woven into our identity and our exports, that's a significant gap. Our workers at Liberty Bell Bay have been left in the dark, with money kept aside until negotiations have concluded on a buyer, but we don't know how much money has been put aside or when this will be paid to cover employee costs.

The budget's tax reforms also undermine our action on climate change. There's no new tax on gas exports for future contracts, and that's so disappointing—and Australians have noticed that flaw. Not only that but the government is sneakily introducing a tax on renewable investments, deterring renewable investments and possibly putting price pressure on power by harming large-scale renewable infrastructure like wind farms and solar farms. Gas companies paid $100 million less in PRRT than expected last year. That outrageous arrangement continues untouched, while capital gains tax on renewable assets from 2030 will give investors pause at exactly the wrong moment. We should not be creating tax settings that work against our clean energy future.

Finally, removing the private health insurance rebate for over 65s without means testing will hit Tasmania harder than any other state. We have an older lower income population, and over 78,000 Tasmanians in that age group hold private cover. This will shift enormous pressure onto our already stretched public hospitals, and the government needs to hear that clearly.

There is real good in this budget for Tasmania, and I give full credit for it. But the gaps on housing, agriculture, community support and climate coherence are serious, and I will not let them pass without a fight.