May 29, 2026
The Labor Party has refused to guarantee farming families won’t be worse off under the Capital Gains Tax changes, says Opposition agriculture spokesperson Darren Chester.
Mr Chester said peak agriculture bodies had warned that farmers could face massively higher capital gains tax bills when transferring farm ownership to their children so Agriculture Minister Julie Collins should listen to their concerns.
He said farmers would face extra stress and uncertainty, as well as higher costs to manage their affairs, if the legislation passed Federal Parliament.
“We have given the Minister several opportunities in Question Time this week to guarantee that farmers won’t be worse off … but she refused to give a straight answer,” Mr Chester said.
Mr Chester said the Capital Gains Tax changes made succession planning more difficult for farming families.
He pointed to National Farmers Federation president Hamish McIntyre who has said the government still has time “to get this right”.
“The message from agriculture is clear: The last thing this country should be doing is making it harder for the next generation to stay on the land,” Mr McIntyre said.
“Family farms often represent farmers’ life savings, carefully invested in over decades to support their retirement and to provide a succession pathway for their children to enter the sector.
“We need to ensure changes to CGT don’t unintentionally compromise the future of Australian farmers.”
Mr Chester has urged the government “to be honest” with the farming sector.
“Farmers are facing more uncertainty from a government that was elected on a broken promise,” Mr Chester said
“This is not about special treatment… it’s about making sure our farming families have a future on the land and are not hit with more taxes by the Labor Party.”
