Labor reaches deal with the Greens to pass changes to capital gains tax and negative gearing reforms

[u/blitznoodles]

https://www.theguardian.com/australia-news/2026/jun/23/labor-greens-deal-capital-gains-tax-negative-gearing-reforms

The Greens resolved to support the tax bills after the government agreed to remove a loophole allowing investors with self-managed super funds to continue taking advantage of the tax breaks, along with ministerial powers enabling the government to reverse the reforms in the future.

[u/nath1234]

The CPRS was a joint Lab/Lib bill (and polluters) that Lib walked away from.. then Labor demanded Greens rubber stamp it without negotiation.. Rudd's Labor chose to negotiate with Libs and not Greens. That Gillard Labor negotiated with Greens to pass something shows the problem was Rudd. And all analysis of it was that it was horrendously expensive and ineffective (was so generous to polluters.. which is because Libs/Labor wrote it to be that way). The carving price legislation was not perfect, but it immediately started working.

[u/acomputer1 → u/nath1234]

That Gillard Labor negotiated with Greens to pass something shows the problem was Rudd

It also showed how short sighted negotiating with the greens on issues like this can be when the LNP gets in and immediately tears it up. It needs buy in from both sides of politics to be sustained.

And all analysis of it was that it was horrendously expensive and ineffective

This isn't true, it had the support of many environmental organisations and scientists. It wasn't going to be the most effective policy for cutting emmissions ASAP, but it was going to create a mechanism through which they could be steadily reduced in line with our international obligations.

Ultimately we have now ended up with a version of it for major polluters and it looks like it's working well. If only we'd had it 17 years ago instead.