Wednesday 24 June 2026

The Albanese Government has once again broken its word, cutting a deal with the Greens to restrict self-managed super funds and take away Australians’ retirement choices.

Member for Mallee Dr Anne Webster said that the Prime Minister had repeatedly insisted he would not do deals with the Greens, yet Mr Albanese has broken trust with the Australian people by again targeting Australians who have worked hard, saved diligently and taken responsibility for their own financial future.

“Labor’s  ban on new Limited Recourse Borrowing Arrangements (LRBAs) for residential property inside self-managed super funds is not about housing affordability. It is about control,” Dr Webster said.

Dr Webster said Labor’s latest attack was yet another not taken to the May 2025 election, also exposing Labor’s preference for big institutions over individual Australians.

“Labor trusts bureaucracies, unions and big industry funds. They do not trust Australians to make decisions about their own money,” Dr Webster said.

“The Albanese government believes Canberra knows best. Instead of backing aspiration, Labor and the Greens are punishing it.”

“Self-managed super fund members have chosen to take responsibility for their retirement. They are not asking taxpayers for assistance. They are building their own financial security and reducing future pressures on government.

“Yet Labor and the Greens have decided those Australians deserve fewer choices and fewer opportunities.

Dr Webster said the policy would hit women particularly hard.

“Women already retire with lower super balances after years spent raising children, caring for family members or rebuilding after divorce and separation,” Dr Webster said.

“For many women, self-managed super and property investment provide a pathway to rebuild financial security later in life.”

“Labor and the Greens are shutting down one more avenue for women to achieve financial independence and a secure retirement.”

The Government claims the superannuation changes are about housing affordability, but Dr Webster said Australia’s housing crisis was not caused by retirees investing through self-managed super funds.

“The housing crisis was caused by governments failing to deliver enough homes, enough infrastructure and enough economic certainty,” Dr Webster said.

“Labor and the Greens never look at supply. They never look at the barriers that governments create. They always look for another Australian to regulate, restrict or punish.”

“This is what happens when Labor climbs into bed with the Greens. Australians lose choices, lose opportunities and lose control over their own futures.  Deep down, Labor wanted to attack self-managed super fund members and have used the Greens as cover to achieve their aims. 

“Australians were promised a Prime Minister who would not govern through Greens deals. Once again, that promise has not survived contact with reality.

Last year Labor wanted to tax unrealised capital gains in self-managed super funds, which Dr Webster told Parliament would have hit as many as 14,000 farms and 13,000 small business owners.  The Nationals’ strident advocacy embarrassed Labor into abandoning what would have been a globally unprecedented tax on earnings not yet capitalised.