Step one is done for Prime Minister Anthony Albanese, whose tax overhaul will become law by the end of the week.
The first tranche of Labor’s budget legislation, including a dramatic rollback of capital gains tax and negative gearing concessions, will pass the Senate on Thursday.
In exchange for Greens support, Labor will ban self-managed super funds from borrowing to purchase new builds, and subject its separate NDIS overhaul to eight more weeks of scrutiny.
With that settled, a dilemma now looms for Albanese’s rival, Angus Taylor.
Taylor and Coalition treasury spokesman Tim Wilson have railed against the changes since budget night, effectively dealing themselves out of this week’s negotiations.
