The treasurer is accusing his coalition counterpart of lying about the make up of Australia's investments as a political row over sweeping tax changes intensifies.
Shadow treasurer Tim Wilson is planning a half-trillion-dollar hit to the budget bottom line, Jim Chalmers said, as the government faces backlash over winding back tax concessions for investments in property, shares and trusts.
Costings released by the treasurer show repealing the changes - as the coalition has promised - would cost the federal budget $544.4 billion over the next nine years.
That includes $212 billion in lost revenue from indexing income taxes, $43.1 billion from repealing the capital gains tax and negative gearing reforms, and $44.2 billion from scrapping the new tax on trusts.
Other hits include $93.5 billion on increased defence spending and $50 billion slashing Australia's migrant intake.
