Greens back Labor tax reforms after super fund deal secured
- 6 hours ago
- 2 min read
The Greens have agreed to support the first stage of Labor’s tax reform package in the Senate, clearing a major hurdle for the legislation to pass into law.
The Treasury Laws Amendment (Tax Reform No. 1) Bill 2026 includes a $1,000 instant tax deduction for workers and a $250 Working Australians Tax Offset. It also sets the framework for changes to negative gearing and capital gains tax discounts.
With no party holding a Senate majority, the bill required support from crossbench senators, including the Greens, to proceed.
The Greens confirmed their backing after securing amendments aimed at closing what they described as loopholes used by wealthy property investors and limiting ministerial discretion over future changes.
Greens leader Larissa Waters said the reforms still favoured wealthy investors and warned the housing crisis would continue for first-home buyers and renters.
Prime Minister Anthony Albanese criticised opposition parties for rejecting the reforms, accusing them of blocking cost-of-living relief and housing support measures.
Treasurer Jim Chalmers said the Greens’ amendments were significant and reflected the reality of a minority Senate, where compromise is required to pass legislation.
The Coalition and One Nation have strongly opposed the package, arguing it will increase taxes and reduce investment in housing and small business.
Opposition Leader Angus Taylor described the deal between Labor and the Greens as a “dangerous” shift that would hurt aspiration and investment.
The broader reform package has also drawn mixed feedback during parliamentary scrutiny. Housing advocates have welcomed elements aimed at improving access for first-home buyers, while parts of the business community have raised concerns about impacts on investment and asset markets.
Separately, the Greens have secured an eight-week extension to a parliamentary inquiry into proposed changes to the National Disability Insurance Scheme (NDIS), delaying a decision on reforms that could affect more than 160,000 participants.
The government says the delay will have a financial cost but remains committed to passing the NDIS changes after the inquiry reports in August.
Source : News.com
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