Law Council of Australia

Business Law Section

Treasury Laws Amendment (Tax Reform No. 1) Bill 2026

Submission Date: 9 June 2026

This Legislation raises significant rule of law concerns. The Law Council of Australia strongly supports the Committee in bringing these matters to the Senate Committee’s attention and seeks a meeting to discuss them. In the Law Council’s view, compliance with core rule of law principles is essential and should inform the design of all legislative measures.

To this end, the Law Council’s Rule of Law Principles Policy Statement is included in the submission. This acts as a guide to the framework often employed by the Law Council and its committees in evaluating the merits of government legislation, policy, and practice. The Law Council encourages its circulation across Government.

The key matters the Committee wishes to comment on are:

  1. matters expressly not dealt with in the Bill;
  2. options—dislocation from established capital gains tax principles;
  3. minimum rate of tax on capital gains—impact on philanthropy;
  4. delegation of core legislative content—inappropriate breadth of Ministerial power;
  5. departure from ordinary standards of legislative scrutiny; and
  6. constitutional uncertainty—manner of imposition of the 30 per cent minimum tax.

The Annexure to this submission includes a non-exhaustive compendium of technical issues with the Bill and Explanatory Memorandum for the Senate Committee to consider.
 

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Last Updated on 01/07/2026

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