Accounting bodies have called for a pause to Labor’s tax reforms bill, arguing that the legislation was rushed and should be subject to much greater public scrutiny.
Appearing before a parliamentary inquiry into the Treasury Laws Amendment (Tax Reform No. 1) Bill 2026, which introduces significant changes to the tax treatment of capital gains, negative gearing and discretionary trusts, representatives from the Institute of Public Accountants (IPA) and CPA Australia said the reforms were poorly drafted and would impose significant compliance costs on businesses.
