THE HON. KEVIN HOGAN MP
FEDERAL MEMBER FOR PAGE
SHADOW ASSISTANT TREASURER
SHADOW MINISTER FOR FINANCIAL SERVICES
DEPUTY MANAGER OF OPPOSITION BUSINESS
LABOR’S WAR ON SMSFs
The Government has now changed the rules on self-managed super funds (SMSFs) four times in five months.
- In March, the Division 296 super tax passed Parliament after three separate designs across three years: unrealised gains in, unrealised gains out, thresholds unindexed, then indexed, one tier, then two. SMSF investors are disproportionately hit by this tax.
- In the Budget, Labor introduced yet another ‘super tax’ – applying a higher effective tax rate on the capital gains of super funds that hold their assets indirectly through managed funds like an ETF. Again, SMSF investors are disproportionately hit.
- In June, Labor banned SMSFs from borrowing to buy residential property as part of a dirty deal with the Greens – without any analysis of the impact on housing. When SMSFs can’t borrow to buy new builds that will only mean we have fewer houses.
- In August, further changes were announced: mandatory trustee education, a written investment strategy, a new ATO veto power over people moving their money into an SMSF, adviser disclosure, and a new CSLR levy contribution.
“Stability is vitally important when people are planning for retirement. But this Government is continually tinkering with the rules,” Mr Hogan said.
“We don’t know what the education requirement will be, who provides it, or what happens if someone fails. We don’t know in what circumstances the ATO will exercise their new power.”
“That’s concerning when the Prime Minister is calling your super a ‘national asset’ to be directed into pet projects like social housing or green energy.”
“The 1.2 million Australians with an SMSF don’t want special treatment. They just want stability. Give them a break.”
ENDS
10 September 2026
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