Katy Gallagher (ACT, Australian Labor Party, Minister for the Public Service) | Hansard source

I don't think it's—I mean, I'm surprised. I think we've been clear. Certainly, I've spoken in interviews about how, across the forward estimates, negative gearing has a larger impact than capital gains tax. I don't think that's a secret. So, for the $3.6 billion, the interaction between the two of them—the capital gains tax and negative gearing—has a positive impact of $3.6 billion. Of that, the vast majority comes from the reforms to negative gearing, and, as I said, that's being more than offset and returned to taxpayers through the working Australian tax offset, which is $6.4 billion across the forward estimates.