AMH Accounting

23/06/2026

So the Government has done a deal with the Greens to ban the use of LRBAs (SMSF borrowing) in return for their support of their flawed CGT and negative gearing changes.

What Was Agreed:

The Greens have confirmed today they will support Labor's Treasury Laws Amendment (Tax Reform No. 1) Bill 2026 through the Senate — the legislation covering the CGT discount overhaul, negative gearing restrictions, and discretionary trust tax.

In exchange, Labor agreed to amend the bill to ban SMSFs from borrowing to acquire residential property via LRBAs.

Greens leader Larissa Waters announced they had secured an amendment "preventing wealthy property investors from exploiting a loophole to use Self-Managed Super Funds to acquire tax-advantaged investment properties," per Yahoo Finance/AP reporting today.

What has been reported so far:

• Scope: Ban on SMSFs borrowing to acquire residential property via LRBAs

• Commercial property: No indication this is affected — the ban appears targeted at residential only

• Existing LRBAs: Grandfathering details have not yet been confirmed publicly — this is the critical unknown for your clients

• Ministerial discretion: The Greens also secured removal of ministerial powers that could have allowed a future minister to reverse the reform

• The legislation still needs to pass the Senate — the government is aiming for passage before Parliament rises on 2 July 2026

I also read that the changes will come into effect 45 days after the law changes receive royal assent - which means it could be 3-4 months away.

So what do you do if you're still in the process of buying a property via an SMSF using borrowings?

If you've already started the process, see it through. Quickly as you can. Lenders will begin to withdraw their lending products once the details are released.

Existing LRBAs will not be impacted. Commercial property apparently will still be available.

So about 1% of residential property purchases are SMSFs that use borrowings. Yeah - like this change is really going to do anything significant to build more homes or make property more affordable 🙄

Greens living up to their colour - green with envy. I bloody hate the politics of this. Trying to make out that everyone who uses an SMSF to borrow to buy property is a "wealthy property investor" is a complete load of crap. They're simply people working hard and trying to get ahead while this government and previous keep slamming doors closed in their faces.

Earlier the opposition leader evaded questions on his stance towards a monoculture, which the treasurer jumped on during question time. Follow live.

23/06/2026

So the Government has done a deal with the Greens to ban the use of LRBAs (SMSF borrowing) in return for their support of their flawed CGT and negative gearing changes.

What Was Agreed:

The Greens have confirmed today they will support Labor's Treasury Laws Amendment (Tax Reform No. 1) Bill 2026 through the Senate — the legislation covering the CGT discount overhaul, negative gearing restrictions, and discretionary trust tax.

In exchange, Labor agreed to amend the bill to ban SMSFs from borrowing to acquire residential property via LRBAs.

Greens leader Larissa Waters announced they had secured an amendment "preventing wealthy property investors from exploiting a loophole to use Self-Managed Super Funds to acquire tax-advantaged investment properties," per Yahoo Finance/AP reporting today.

What has been reported so far:

• Scope: Ban on SMSFs borrowing to acquire residential property via LRBAs

• Commercial property: No indication this is affected — the ban appears targeted at residential only

• Existing LRBAs: Grandfathering details have not yet been confirmed publicly — this is the critical unknown for your clients

• Ministerial discretion: The Greens also secured removal of ministerial powers that could have allowed a future minister to reverse the reform

• The legislation still needs to pass the Senate — the government is aiming for passage before Parliament rises on 2 July 2026

I also read that the changes will come into effect 45 days after the law changes receive royal assent - which means it could be 3-4 months away.

So what do you do if you're still in the process of buying a property via an SMSF using borrowings?

If you've already started the process, see it through. Quickly as you can. Lenders will begin to withdraw their lending products once the details are released.

Existing LRBAs will not be impacted. Commercial property apparently will still be available.

So about 1% of residential property purchases are SMSFs that use borrowings. Yeah - like this change is really going to do anything significant to build more homes or make property more affordable 🙄

Greens living up to their colour - green with envy. I bloody hate the politics of this. Trying to make out that everyone who uses an SMSF to borrow to buy property is a "wealthy property investor" is a complete load of crap. They're simply people working hard and trying to get ahead while this government and previous keep slamming doors closed in their faces.

Andrew Hastie attributes security boost to a campaign by supporters of Ben Roberts-Smith and One Nation; Butler says NDIS delay will cost “a few hundred million”. Follow live.

20/06/2026

I wanted to bring to your attention the upcoming Payday Super changes and the importance of payroll and superannuation being processed correctly and on time. From 1 July 2026, superannuation must be paid with payroll and received by the employee’s super fund within the required timeframe, generall...

15/05/2026

We are delighted to announce AMH Accounting’s newest partner. 😂

He will officially be joining us on 1 July 2027 and will hold a 47% ownership interest in the practice.

While we can confirm that he cannot prepare budgets, balance the books, reconcile a loan account, or explain Division 7A without making everyone cry, we can absolutely guarantee one thing:

He will make you pay more tax.

You may be thinking, “Have they completely lost their minds?”

Possibly.

But on Tuesday he put forward an offer we simply could not refuse. In fact, it was almost too good to be true. 😂🙃

We have not yet worked through the finer logistics, governance arrangements, profit distribution model, or whether he will be allowed anywhere near Xero, but I am sure you are all just as thrilled as I am. 🥲

Please join us in welcoming our newest partner to AMH Accounting.

14/05/2026

12/05/2026

The government tonight, in its budget, has effectively told every Australian — and even more so young Australians — to take their good ideas and start a business in a different country with more competitive CGT and business tax rates.

Singapore is a country with almost no natural resources, yet its economy is exceptionally strong. Its GDP is built on services, finance, trade, technology, manufacturing, logistics, education, and attracting global business — not on digging wealth out of the ground. Singapore’s real resource is brain power: people’s ideas, enterprise, discipline, capital, and a tax system that encourages ambition rather than punishing it.

Australia has tonight risked losing one of its best resources to places like Singapore: the ambition, ideas, innovation, and enterprise of its own people. No one with half a brain will start a business of innovation in this country, pay tax on profits and then give the government half of the gain in the business in tax.

12/05/2026

🤓😜