Labors Tax Overhaul Clears Lower House Amid Flurry of Proposed Amendments

Australian Treasurer Jim Chalmers delivers the 2026-27 Federal Budget at Parliament House in Canberra, Australia on May 12, 2026. Hilary Wardhaugh/Getty ImagesLabor’s proposed tax reforms have passed the House of Representatives without amendment with the Coalition and crossbench senators waiting next.The legislation passed the lower house 94 votes to 48 and includes the $250 Working Australian Tax Offset, a $1,000 instant tax deduction, as well as the contentious changes to capital gains tax (CGT) and negative gearing.