Tim Ayres (NSW, Australian Labor Party, Minister for Industry and Innovation) Share this | Hansard source

Don't you worry about Jack's tax; I'd worry about Jane's tax if I were you.

That is why we are levelling the playing field for young Australians in this budget. The changes to the capital gains tax and negative gearing remove that unfair disadvantage. That's what they do. That's what people want out of their parliaments and their governments—to act in their interests. That inequity is something that Australian first home buyers, particularly young people, have faced for far too long. Carve-outs in the tax changes for new homes will drive housing investment towards new supply. I would have thought that's something that the coalition would have understood. We're investing a further $2 billion in infrastructure, along with our friends in the states, to unlock tens of thousands of new homes. That's what that will do—pipes, pavements and powerlines to power the homes of the future.

Honourable senators interjecting—