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Self-managed super sector blindsided by Labor-Greens deal on tax package
Key takeaways
- Anthony Albanese announced the deal with the Greens yesterday.
- Financial groups have described Labor's plan as "policy on the run" and the Coalition remains committed to repealing the changes, which are due to pass the Senate on Tuesday.
- Financial groups have criticised Labor's tax bill, which has undergone multiple rounds of changes following backlash to the proposal, as a "patch-up job on the run".
Why this matters: an international story with cross-border implications worth tracking.
Anthony Albanese announced the deal with the Greens yesterday. (ABC News: Ian Cutmore)
Self-managed super funds were 'surprised' at Labor's decision to restrict borrowing for investment in housing as part of a deal with the Greens to pass a sweeping bill including negative gearing and capital gains tax changes.
Financial groups have described Labor's plan as "policy on the run" and the Coalition remains committed to repealing the changes, which are due to pass the Senate on Tuesday.
Article preview — originally published by ABC Australia. Full story at the source.
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