The Greens have announced they will support the federal government's controversial changes to capital gains tax and negative gearing through parliament. The party made the announcement on Tuesday morning, stating they have secured an amendment to prevent wealthy property investors from exploiting a loophole that allowed the use of self-managed superannuation funds to purchase investment properties.
Government and Greens Joint Statement
Prime Minister Anthony Albanese, Treasurer Jim Chalmers, and Finance Minister Katy Gallagher also announced the agreement in a joint statement. They said it was now a question for the rest of the parliament “whether they will get on board with tax cuts for workers and a fairer tax system for first home buyers”.
“The three right-wing parties voted against these tax cuts and in favour of big tax breaks for property investors in the House, and now they’re planning to vote the same way in the Senate, which will mean voting against tax concessions for small businesses as well,” they said.
Amendments to NDIS Legislation
As part of the deal, the government said it would be making a number of amendments to the legislation, including supporting amendments to National Disability Insurance Scheme (NDIS) legislation to “clarify the implementation of the reforms”.
More to come ...
