Monday 22 June 2026

AI Summary

The Member for Page asked whether the Albanese government is Australia's highest taxing government in history. Prime Minister Albanese disputed the premise, stating the Howard government held that record, and redirected by listing the Coalition's proposed tax increases and highlighting their government's five tax cuts.

AI Summary

The Shadow Treasurer questioned whether all businesses would lose the 50% capital gains tax discount. Treasurer Chalmers clarified that a discount would remain but be based on actual gains rather than a fixed rate, and stated that 98% of active businesses would be able to access concessions and carve-outs, with 100% of small businesses accessing higher turnover thresholds.

AI Summary

The Member for Wide Bay asked whether small business owners in trades, farming, and services would qualify for the innovative business CGT concession. The Treasurer responded that most of these businesses would fall under a higher turnover threshold for small business concessions instead, stating that 98% of active businesses and 99% of agricultural businesses would be eligible for various CGT concessions and carve-outs.

AI Summary

Wilson asked whether all businesses would lose the 50% capital gains tax discount under the government's tax reforms. The Treasurer responded that a modified discount would remain and that 98% of active businesses would access concessions and carve-outs, while 100% of small businesses would benefit from higher turnover thresholds, though they deflected to criticise the opposition's inconsistency rather than directly addressing the specifics of the discount change.

AI Summary

O'Brien asked whether small business owners like bricklayers, farmers, and hairdressers would qualify for the innovative business CGT concession. Chalmers responded that most such businesses would fall under a higher small-business turnover threshold and access other CGT concessions instead, noting that 99 per cent of agricultural businesses would be eligible for a 50 per cent active asset reduction.

AI Summary

Helen Haines asked the Treasurer to commit to tabling a response to the May 2024 Bank Closures report before more branches close, citing 596 regional towns now without any bank. The Treasurer acknowledged the issue and detailed government actions taken since the report, including negotiating a two-year moratorium on branch closures, expanding Bank@Post services, and implementing a cash acceptance mandate, but did not directly commit to a timeline for tabling the formal response.

AI Summary

Ben Small asked the Prime Minister about rising taxes on savings, investments, housing and businesses, accusing them of breaking promises on tax policy. The Prime Minister did not directly address the specific tax claims, instead making a brief procedural comment about putting members on notice.

AI Summary

Le asked for assurance that government MPs or their relatives did not use prior knowledge of budget tax changes for private financial benefit. Prime Minister Albanese deflected by criticizing the framing of the question, stating that if there were allegations they should be made explicitly and outside parliament, then pivoted to discussing local benefits in Fowler electorate rather than addressing the specific concern raised.

AI Summary

The Member for Fowler asked the Prime Minister for assurance that no government MPs or their relatives used prior knowledge of the May budget's capital gains tax and negative gearing changes for private financial benefit before public announcement. Prime Minister Albanese deflected from the question, instead defending the government's consultation processes and listing local benefits delivered to the Fowler electorate, without directly addressing the integrity concern raised.