SMSF property plans shattered by Labor-Greens budget deal (opens original article in a new tab)

Over 1 million Australians with self-managed superannuation funds will lose the ability to borrow for property purchases due to a new budget deal between Labor and the Greens.

• Self-managed superannuation funds in Australia will be banned from borrowing to buy property from mid-August.
• The ban is a result of a budget deal between Labor and the Greens to change capital gains tax and negative gearing rules.
• Over 1 million Australians will be affected by the new restrictions on property investment through SMSFs.