The Albanese Labor Government’s legislation to strengthen the tax system has passed the House of Representatives with amendments to extend further transitional support for renewable infrastructure.
This is all about protecting taxpayers from misconduct, ensuring foreign residents pay a fair share of tax and facilitating the transition to cheaper, cleaner, more reliable energy.
The Treasury Laws Amendment (Strengthening Accountability for Tax Adviser Misconduct and other Measures) Bill 2026 introduces amendments to the Tax Agent Services Act to address issues raised by the PwC tax leaks scandal, and recommendations from an earlier review of the Tax Practitioners Board (TPB).
The Bill also strengthens the foreign resident Capital Gains Tax (CGT) regime, improves the new merger system, and supports charitable giving by expanding deductible gift recipient status and reforming giving funds.
The reforms to foreign resident CGT will ensure foreign residents pay a fair share of tax in Australia while providing generous concessions for investments in renewable energy.
We’re delivering more clean energy and more certainty for investors.
The Government will provide a time‑limited, targeted concession in the foreign resident CGT regime for investment in the renewables sector, to encourage further investment in Australia’s energy security and energy transition.
After consulting with stakeholders, we’re providing a concessional period for these investments to 2040 to more closely align with the investment horizons typical of renewable energy projects.
The Government is committed to supporting the energy transition and acknowledges the constructive role of stakeholders, the Greens and other members of the crossbench in reaching this position.
This is part of the Government’s reforms to deliver more productivity enhancing investment, including in the renewable energy sector, supported by the Capacity Investment Scheme, specialist investment vehicles such as the Rewiring the Nation Fund, and the Investor Front Door.
The Government is delivering a better tax system, boosting productivity and resilience and making the budget more sustainable and this legislation is an important part of that.
