Labor has been accused of rushing through its controversial capital gains tax changes with a Bill introduced to Parliament on Tuesday with little notice ahead of an expected vote on Wednesday.

The Treasury Laws Amendment (Tax Reform No. 4) Bill 2026 was listed on the House of Representatives notice paper for Tuesday, but shadow treasurer Tim Wilson only received a briefing from Treasurer Jim Chalmers’ office on Tuesday morning ahead of his early afternoon speech to Parliament.

“Just before midnight last night, the Treasurer flagged a new tax Bill that he hasn’t flagged to the Parliament, which is being introduced this morning,” Mr Wilson told reporters in Canberra.

“The Treasurer is now trying to bully the Parliament into passing tax changes which have not been discussed by the Parliament and have not been flagged or considered by the Parliament.

“This is a very distressing trend. At every point, this government has taken no interest in democracy or standing up for basic processes.”

An expected vote on the Bill has now been pushed back to Wednesday, after initially being scheduled for Tuesday.

“Now they’re doing so at five minutes to midnight and ramming them through the Parliament today,” Mr Wilson said.

“We still don’t know the details of it, and this is what’s most distressing. The kinder, gentler Parliament has already been suffocated by this Treasurer.”

The Treasurer on Tuesday afternoon told Parliament innovative start-ups would be eligible to receive the 50 per cent capital gains tax discount under Labor’s Innovative Business CGT Concession, being introduced following an outcry from the tech sector about the original May Budget plan.

“The concession supports early investment in innovative businesses by providing eligible founders, employees and investors with access to a 50 per cent capital gains tax discount on equity investments,” Dr Chalmers said in his second reading speech introducing the Bill.

“This means early investors in innovative start-ups that begin with a low or zero cost base still receive a significant discount on a future capital gain.”

The innovative business capital gains tax concession of 50 per cent on equity investments will apply to eligible founders, staff and investors, sparing them from the minimum 30 per cent CGT coming into effect on July 1, 2027.

“This will support investment in innovative Australian start-ups, and the continued growth of Australia’s start-up and venture capital system,” Dr Chalmers said.

“Critical technologies like artificial intelligence, quantum computing, robotics and clean energy will play a critical role in driving our nation’s future economic growth, productivity and jobs.”

Dr Chalmers last month flagged the Federal Government would announce a capital gains tax carve-out for innovative start-ups, including the scrapping of a $10 million lifetime cap on tax concessions along with a strict definition of what constituted “innovative” to qualify for the 50 per cent CGT discount.

The tech sector campaigned against the plan to double the maximum capital gains tax rate to 47 per cent, as part of that plan for a minimum 30 per cent tax, leading to Dr Chalmer announcing that the minimum hold period for investors to be eligible for the 50 per cent CGT concession would be raised to five years, up from three.

Companies would also get the 50 per cent CGT discount if they were 15 years old, up from 10 years.

The Bill also includes a 50 per cent tax offset rate on research and development, from July 1, 2028, and an end to the 100 per cent fringe benefit on electric cars from April 1, 2029, when a 25 per cent discount for EVs under the fuel-efficient luxury car tax threshold will apply.

A separate Bill on applying a minimum 30 per cent tax on discretionary trust distributions, from July 2028, was also listed for Tuesday.

This Bill, to tax the distributions from trusts where beneficiaries can be altered, is known as the Income Tax Rates Amendment (Minimum Tax on Discretionary Trusts) Bill 2026.