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

The Greens will support the Albanese government’s negative gearing and capital gains tax changes under a deal that will delay and tweak Labor’s planned overhaul of the national disability insurance scheme. The minor party announced its position on Tuesday morning, clearing the path for Labor to pass its contentious budget centrepiece before federal parliament rises for the winter break. 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. In a joint statement, the prime minister, the treasurer and the finance minister noted the Greens’ announcement. “The Albanese government is another step closer to delivering its tax reforms for workers, home buyers, and businesses,” they said. “These reforms will make it easier for Australians to buy their first home, cut taxes for over 13 million workers, and better align the tax treatment of labour and asset income.” Sign up for the Breaking News Australia email As part of negotiations with Labor, the Greens say they have secured an eight-week extension to a Senate inquiry into the NDIS changes and negotiated several amendments, including to limit the scope of the minister’s powers to make blanket cuts to categories of participant supports. …