Larissa Waters on the Greens' CGT and negative gearing deal with Labor - podcast
Guardian AU
β’Fri, 26 Jun 2026 02:00:05 GMT
π° What Happened
Guardian Australia's Australian Politics podcast features an interview with Greens Senate Leader Larissa Waters, who discusses her party's deal with Labor to pass reforms to the capital gains tax (CGT) discount and negative gearing. Waters explains that while the Greens were unable to negotiate a more ambitious proposal β including removing grandfathering provisions or capping the number of negatively geared properties investors can hold β the agreement represents the best outcome achievable under the current parliamentary circumstances. The reforms mark a significant legislative achievement for the Albanese government, which had campaigned on these changes during the 2022 and 2025 elections.
In the interview with political editor Tom McIlroy, Waters also addresses why the Greens will vote against the government's cuts to National Disability Insurance Scheme (NDIS) spending, signalling a continued area of division between the two parties despite their cooperation on tax reform. Waters additionally discusses what her party is doing to counter the rising tide of support for One Nation, acknowledging the populist party's growing appeal among voters who might otherwise support progressive or left-wing policies. The podcast provides insight into the complex dynamics of minority government negotiation and the strategic calculations facing both Labor and the Greens as they navigate an increasingly fragmented political landscape.
π The Backstory
Capital gains tax reform and negative gearing changes have been contentious issues in Australian housing policy for decades. Labor has long argued that the current tax settings favour wealthy property investors over first-home buyers, contributing to Australia's housing affordability crisis. The Greens have historically pushed for even more aggressive reform, including eliminating negative gearing entirely for existing properties. The Albanese government, lacking a majority in the Senate, has relied on crossbench support to pass legislation. Larissa Waters has been a Greens senator for Queensland since 2011 (with a brief hiatus) and served as the party's deputy leader. The National Disability Insurance Scheme (NDIS), Australia's landmark disability support program, has faced growing cost pressures, prompting the government to seek savings through reforms that disability advocates have criticized.
π― Why It Matters
This deal represents a significant policy victory for the Albanese government on housing affordability and tax reform, while also demonstrating the power of crossbench negotiation in the current parliament. The Greens' decision to support CGT and negative gearing changes while opposing NDIS cuts illustrates the careful balancing act required of minor parties that want to influence government policy without being seen as rubber-stamping all government legislation.
Guardian Australia's Australian Politics podcast features an interview with Greens Senate Leader Larissa Waters, who discusses her party's deal with Labor to pass reforms to the capital gains tax (CGT) discount and negative gearing. Waters explains that while the Greens were unable to negotiate a more ambitious proposal β including removing grandfathering provisions or capping the number of negatively geared properties investors can hold β the agreement represents the best outcome achievable under the current parliamentary circumstances. The reforms mark a significant legislative achievement for the Albanese government, which had campaigned on these changes during the 2022 and 2025 elections.
In the interview with political editor Tom McIlroy, Waters also addresses why the Greens will vote against the government's cuts to National Disability Insurance Scheme (NDIS) spending, signalling a continued area of division between the two parties despite their cooperation on tax reform. Waters additionally discusses what her party is doing to counter the rising tide of support for One Nation, acknowledging the populist party's growing appeal among voters who might otherwise support progressive or left-wing policies. The podcast provides insight into the complex dynamics of minority government negotiation and the strategic calculations facing both Labor and the Greens as they navigate an increasingly fragmented political landscape.
Capital gains tax reform and negative gearing changes have been contentious issues in Australian housing policy for decades. Labor has long argued that the current tax settings favour wealthy property investors over first-home buyers, contributing to Australia's housing affordability crisis. The Greens have historically pushed for even more aggressive reform, including eliminating negative gearing entirely for existing properties. The Albanese government, lacking a majority in the Senate, has relied on crossbench support to pass legislation. Larissa Waters has been a Greens senator for Queensland since 2011 (with a brief hiatus) and served as the party's deputy leader. The National Disability Insurance Scheme (NDIS), Australia's landmark disability support program, has faced growing cost pressures, prompting the government to seek savings through reforms that disability advocates have criticized.
This deal represents a significant policy victory for the Albanese government on housing affordability and tax reform, while also demonstrating the power of crossbench negotiation in the current parliament. The Greens' decision to support CGT and negative gearing changes while opposing NDIS cuts illustrates the careful balancing act required of minor parties that want to influence government policy without being seen as rubber-stamping all government legislation.