Controversial tax changes will go straight to a contested parliamentary inquiry as Labor seeks to fast-track its reform agenda.
Treasurer Jim Chalmers stood firm against a growing number of calls for business exemptions as he introduced a landmark bill to parliament on Thursday that included changes to capital gains tax and negative gearing, as well as a $250-a-year rebate for workers.
"This is a bill for workers, for first home buyers and for future generations," he told the House of Representatives.
"It will help ensure that aspiration and opportunity are the birthright of every Australian and not just some."
But Labor's bill was automatically referred to a senate committee for scrutiny, under rules that laws starting on July 1 are subject to an inquiry before they take effect.
