Live: Rush to pass CGT, negative gearing overhaul 'farcical': Pocock

Independent Senator David Pocock has labeled the government's push to legislate its tax overhaul as "farcical," asserting that the Senate requires more time for thorough review. The government is currently in negotiations with the Greens to secure support for its proposed changes to the capital gains tax discount and negative gearing.

Following a brief, two-day inquiry into the proposed reforms last week, the prime minister announced that carve-outs would be included for small businesses and startups. However, Pocock, who participated in the inquiry, believes other aspects of the bill warrant closer examination.

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It's farcical to think that you can look at a bill this size and actually get it right in two days.

"It's farcical to think that you can look at a bill this size and actually get it right in two days," Pocock told ABC's AM. He emphasized the Senate's role as a house of review, stating, "I think we should be doing our jobs and so we have get it right when it comes to start ups and capital going into them and how we actually keep starts here in Australia as they grow."

Meanwhile, the government is reportedly inching closer to passing the legislation, though the Greens are said to be requesting further amendments. The political maneuvering occurs as the government also addresses concerns over bird flu, with a second bird testing positive for the H5 strain.

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The senate is the house of review and I think we should be doing our jobs and so we have get it right when it comes to start ups and capital going into them and how we actually keep starts here in Australia as they grow.