A snap inquiry is not enough to properly investigate looming tax reforms, business groups say, as contentious budget measures go under the spotlight.
A Senate inquiry into the tax changes is holding the first of two days of hearings on Monday.
Under the changes, the 50 per cent discount for capital gains tax will be replaced with a rate tied to inflation and a 30 per cent minimum, while negative gearing will be limited to new houses only from July 2027.
In a joint statement, business peak bodies warned the measures would lower productivity and make Australia less competitive globally.
AI Group chief executive Innes Willox said the changes were being rushed through and a two-day hearing was not enough to adequately examine them.
