Senate · 2026-09-07 · Division 957
Agree to the tax bill as printed in committee
Editorial review: AI agent, authorised by the Australian Poll developer, 2026-10-02. Division register (includes result)
Senate Journal 65 · Source status: Proof
Senate · 2026-09-07 · substantive
Consider the motion
That the bill stand as printed
The bill being decided
The Senate had the bill as the House of Representatives passed it on 20 August 2026. The House had changed one date: Schedule 3’s discount would apply until 30 June 2040 instead of 30 June 2030. The bill has eight schedules.
Schedule 1, tax agents: lets the Tax Practitioners Board suspend registrations, adds civil penalties, criminal offences, infringement notices and enforceable undertakings, and raises existing civil penalties, for registered tax practitioners and unregistered preparers.
Schedule 2, foreign residents’ capital gains: broadens which gains foreign residents pay capital gains tax on for assets closely connected to Australian land and natural resources, including through a new definition of ‘real property’.
Schedule 3, renewable energy assets: gives certain foreign residents a transitional 50 per cent capital gains tax discount when they dispose of Australian renewable energy assets, from commencement until 30 June 2040.
Schedule 4, mergers: an acquisition that should have been notified but was not would no longer be void automatically; the Federal Court could void it on the competition regulator’s application. It also changes the rules about associates and allows an extension before a notification becomes stale.
Schedule 5, competition policy: replaces references to the 1995 National Competition Policy agreements with the 2024 agreement, and lets the Minister specify the competitive neutrality arrangements the Productivity Commission Act refers to.
Schedule 6, gift deductibility: lists three new deductible gift recipients, extends two listings and updates one name.
Schedule 7, giving funds: renames public and private ancillary funds as public and private giving funds.
Schedule 8, withholding credits: lets taxpayers claim credit for foreign resident capital gains withholding in the income year the underlying transaction is taxed, and repeals a 2017 remedial determination.
About this vote
The Senate was considering the Treasury Laws Amendment (Strengthening Accountability for Tax Adviser Misconduct and Other Measures) Bill 2026 in committee of the whole, taking the bill as a whole by leave. Schedule 3 had been retained and amendments on sheets 3997 and 4013 rejected. Yes supports the bill standing as printed at this committee stage; no opposes that question. This was not a third-reading vote, and it could not by itself complete the bill’s passage.
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