10,000 Sign Petition Against Labor’s Wealth Vehicle Overhaul

10,000 Sign Petition Against Labor’s Wealth Vehicle Overhaul Approximately 10,000 individuals have signed a petition opposing the Labor government’s proposed reforms to Australian wealth generation vehicles. Wilson Asset Management initiated the campaign, asserting that changes to capital gains tax, negative gearing, and trust taxes will negatively impact long-term investment. The petition argues these reforms will hinder younger Australians’ financial independence, reduce business investment and innovation, and slow economic productivity growth.

• 10,000 people have signed a petition against Labor’s overhaul of Australian wealth generation vehicles.
• Wilson Asset Management launched the campaign, arguing the changes will inhibit long-term investment.
• The petition states the proposed capital gains tax changes will discourage investment in Australian businesses, innovation, farms, and productive assets.
• It claims these changes will make it harder for younger Australians to build financial independence, reduce investment, and weaken productivity growth.
• The Treasury Laws Amendment (Tax Reform No. 1) Bill 2026 was introduced into Parliament on May 28.