Senate Passes Labor Tax Reforms on Housing Despite Coalition and One Nation Opposition

Senators move around the Senate Chamber during a division at Parliament House on February 04, 2026 in Canberra, Australia. Sessions resumed at parliament with a strong focus on the Liberal, National and One Nation parties as the former coalition loses substantial support and is embroiled in leadership turmoil. Photo by Hilary Wardhaugh/Getty ImagesLabor’s tax reforms have passed the Senate, clearing the way for changes to negative gearing and capital gains tax arrangements from July 1, 2027.The legislation, which passed with the support of the Greens, restricts negative gearing to newly built homes and removes the 50 percent capital gains tax discount for investment properties and some businesses.