Katy Gallagher (ACT, Australian Labor Party, Minister for the Public Service) | Hansard source

I thank Senator Cox for the supplementary question. With the agreement that we have reached with the Greens today—we thank them for the work that they have done with us since the budget was announced—the government will be able to deliver those first tranches of tax reform, as we outlined on budget night. We have agreed to support an amendment that will be moved by the Greens to ban future limited recourse borrowing arrangements for residential property by superannuation funds. Other super funds are generally prohibited from borrowing money to invest, with the exception of LRBAs that are used by SMSFs. Multiple issues and concerns have been raised around these arrangements, with multiple reviews undertaken, including many of the reviews that reported under the former government, who chose to do nothing about it. The three right-wing parties voted against these tax cuts in the House. Now they're planning to do the same in the Senate, which will mean voting against concessions— (Time expired)