25/06/2026
The federal government has performed a major U-turn on controversial tax changes that critics warned would push grieving spouses into "financial hardship." 🛑 👇
Under the initial budget proposal, if a partner passed away or a couple divorced, the surviving spouse would have had their grandfathered Capital Gains Tax and negative gearing settings completely wiped.
Independent Senator David Pocock sounded the alarm on the "unintended consequences," labelling it a "widow tax" that would disproportionately harm women’s retirements.
Following intense pressure, Finance Minister Katy Gallagher confirmed the government will amend the rules to protect grieving spouses.
The government has also struck a deal with the Greens to ban self-managed super funds (SMSFs) from purchasing residential property, in a move Nationals Leader Matt Canavan has lashed as a "dodgy deal" and a "massive attack on every Australian's superannuation funds."
What do you think of the government's tax reforms? Are everyday Australians being treated fairly when it comes to retirement planning?
Full story: https://www.thesenior.com.au/story/9298848/how-the-smsf-property-ban-and-cgt-changes-hit-older-australians/