Coalition Backs Tax Cuts, Opposes Labors Property Tax Changes

Leader of the Opposition Angus Taylor responds to the 2026-27 federal Budget at Parliament House in Canberra, Australia, on May 14, 2026. Hilary Wardhaugh/Getty ImagesThe Coalition has formally declared it will vote against Labor’s proposed changes to capital gains tax (CGT) and negative gearing, while backing the government’s income tax cuts and workplace deduction measures.During a debate on the Treasury Laws Amendment (Tax Reform No. 1) Bill 2026, introduced to Parliament on May 28, Opposition Leader Angus Taylor outlined amendments to remove Labor’s property tax measures while retaining the rest of the legislation.