Labor Secures Greens Support for Tax Overhaul, Pledges to Restrict SMSF Borrowing

Australia’s Prime Minister Anthony Albanese speaks during a press conference regarding budget changes in Sydney, Australia on June 18, 2026. David Gray/AFP via Getty ImagesLabor has secured Greens support for its contentious tax reforms after agreeing to tighten superannuation borrowing rules, paving the way for the package to pass the Senate this week.In a joint statement with Treasurer Jim Chalmers and Finance Minister Katy Gallagher, Prime Minister Anthony Albanese announced he had gained the support of the left-wing party following a deal to ban Australians from using self-managed superannuation funds (SMSFs) to borrow money to invest in property.