Media Releases

20 August 2026

Crossbench MPs have welcomed news the Albanese government has responded to their concerns and will extend the CGT concession from 2030 to 2040 for foreign investment in renewable energy. 

The Albanese Government’s proposed changes risked undermining investment certainty and slowing the rollout of much-needed renewable energy infrastructure. 

This important extension provides investors and project developers with greater certainty and a more realistic timeframe to plan, finance and deliver renewable energy projects. It will help protect the pipeline of investment needed to secure the clean energy economy we need to meet Australia’s renewable energy goals.

The government’s initial proposal for a 2030 phase-out of CGT concessions would have created additional pressure on projects already facing long development timelines, higher costs and a need for stable and predictable investment settings. 

A 2040 transition recognises the realities of financing and building renewable energy infrastructure and strikes a better balance between the government’s tax objectives and the urgent need to maintain investment in Australia’s renewable energy rollout.

Attributable to Zali Steggall MP

“This is a welcome step that gives investors and project developers greater certainty, but we cannot afford to slow Australia’s clean energy build-out.

“Australia needs significant new generation, storage and network investment through to 2050 – and around 70 per cent of clean energy capital comes from foreign sources.

“I will continue to push for a statutory review in 2035 to assess whether a further extension of the CGT concession is needed to keep Australia on track to meet its renewable energy goals and achieve net zero by 2050.”

Attributable to Nicolette Boele MP

 "This is a welcome result for Australia's clean energy industry and, frankly, for anyone who pays a power bill. Investors now have a runway out to 2040, long enough to finance and build the solar farms, wind projects and batteries that put downward pressure on prices.

"We were staring down a fire sale of renewable assets before 2030 and a freeze on everything after it - a self-inflicted wound on our energy economy.

"It took sustained pressure from the crossbench and from industry to get here. This is what it looks like to bring our tax laws into line with an economy fit for the 21^st century."

Attributable to Sophie Scamps MP:

“The crossbench has been crucial in securing this important amendment, which will ensure investment in clean energy continues - something which is essential to Australia’s future energy security.

“I was pleased to see the Government accept the extension for the CGT concessions to 2040 as proposed in the amendment I circulated to better reflect realistic investment timeframes.”

Attributable to Monique Ryan MP:

 “A mature discussion about CGT reform is a conversation we had to have, and I congratulate the government for further strengthening Australia's CGT regime.

“Most importantly, the crossbench together with the clean energy sector is set to secure a significant victory today when it comes to extending the timeframe in which concessional rates of CGT are applied to investment in nation-shaping energy generation and storage assets.

“These tax reforms were needed to provide certainty to investors. I'm pleased the government has agreed to adopt this practical improvement to helps accelerate our energy transition towards net zero.”

Attributable to Allegra Spender MP:

I’m really pleased that the government has listened to the crossbench and stakeholders and improve this legislation, speed the energy transition and avoid sovereign risk. It’s always important that changes to complex legislation are road tested before implementation and pleasing when we can work with stakeholders to improve policy settings.