Albo caves to Greens on superannuation change as they strike deal on his Budget tax reforms: Here's what it means for you

By NICHOLAS COMINO, POLITICAL REPORTER, AUSTRALIA Published: 01:57, 23 June 2026 | Updated: 01:57, 23 June 2026 Anthony Albanese has revealed there will be investment changes to self-managed super funds as he strikes a deal with the Greens to pass his flagship tax reforms. The Prime Minister confirmed the agreement on Tuesday. The reforms include a major overhaul of capital gains tax, with the existing 50 per cent discount scrapped and replaced by a flat 30 per cent rate, indexed to inflation. Negative gearing rules will also be tightened, limiting tax concessions to newly built properties, while all existing arrangements before May 12 will be grandfathered. In a key concession to the Greens, Labor has agreed to ban future limited recourse borrowing arrangements (LRBAs) for residential property through self-managed super funds. These arrangements currently allow some investors to borrow money through their super to purchase property. The government said limiting them going forward would 'help protect people's savings', pointing to concerns raised in multiple inquiries that borrowing within super can increase financial risks. Importantly, the change will not affect existing investments. Anthony Albanese (pictured) confirmed a deal with the Greens had been struck on the budget Larissa Waters (pictured) and the Greens have slammed proposed changes to the NDIS  'These changes don't in any way change the tax arrangements for superannuation [and] don't impact any existing SMSF borrowing arrangements,' the government said. The agreement also covers amendments to Labor's controversial National Disability Insurance Scheme reforms, with the government committing to clarify how the changes will be implemented. This comes after the Greens publicly criticised the proposed overhaul, warning it could harm vulnerable Australians. No comments have so far been submitted. Why not be the first to send us your thoughts, or debate this issue live on our message boards. By posting your comment you agree to our house rules. Do you want to automatically post your MailOnline comments to your Facebook Timeline? Your comment will be posted to MailOnline as usual. Do you want to automatically post your MailOnline comments to your Facebook Timeline? Your comment will be posted to MailOnline as usual We will automatically post your comment and a link to the news story to your Facebook timeline at the same time it is posted on MailOnline. To do this we will link your MailOnline account with your Facebook account. We’ll ask you to confirm this for your first post to Facebook. You can choose on each post whether you would like it to be posted to Facebook. Your details from Facebook will be used to provide you with tailored content, marketing and ads in line with our Privacy Policy.