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- š More tax changes as government targets SMSFs | KPMG scandal deepens
š More tax changes as government targets SMSFs | KPMG scandal deepens
Olivia Trotter
June 24, 2026
Presented by
The Big Picture
Self-Managed Super Funds will be banned from borrowing to buy homes. The government struck a deal with the Greens to pass their capital gains tax changes. SMSFs will still be able to buy residential property, but they will not be able to take out a mortgage to do it. (Capital Brief | AFR)
NSW and QLD hand down budgets. The NSW government announced $100 off vehicle registrations and freezing public transport fares for one year as it projects just 1% growth in the 2027 and 2028 financial years. QLD is giving families $50 back-to-school payments for primary-aged students as it projects a $9 billion deficit in the 2026 financial year. (AFR | ABC)
US and Iran give shipowners conflicting instructions. Iran warned of āpenaltiesā if ships do not seek permission from Tehran to pass the Strait of Hormuz and take a route close to the Iranian coastline. Meanwhile, the US is telling ships to follow a route protected by US air cover on the Omani side of the Strait. (FT)
Andy Burnham looks to secure British Prime Ministership. After Keir Starmer announced his resignation, speculation rose that newly-elected Burnham and Wes Streeting would contest for the top job. But Streetling has shelved his leadership ambitions reportedly in return for being promised the role of Chancellor. (Reuters)
Companies in the news
KPMG scandal claims more scalps. Chairman Martin Sheppard will resign alongside two partners, Eileen Hoggett and Paul Rogers. This comes after the Senate inquiry found KPMG moved to fire the whistleblower within a month of his disclosure. (AFR)
OpenAI pitches ads at Cannes Lions conference. The company behind ChatGPT appeared at the worldās largest advertising conference, pitching ads in ChatGPT. The company hopes to build a multibillion dollar ad business, alongside its subscription business, before it IPOs later this year. (FT)
Apollo limits redemptions at private credit fund. Investor redemption requests rose to 17% of the Apollo Debt Solutions fund, however, were capped at 5%. These redemption requests were up from 11% last quarter. (AFR)
SpaceX drops almost 30%, back to where it was first trading. Elon Muskās space company is nearing $150 a share, after reaching as high as $225 last week. Breathing a sigh of relief is Bryce, who said he would stop investing if SpaceX didnāt drop below $150. (FT)
Alphabet fell 5% as key AI talent defects. Gemini co-lead Noam Shazeer left for OpenAI and DeepMindās John Jumper left for Anthropic. It was the tech giantās worst day in over a year. But it is still up 110% in the past 12 months. (CNBC)
Final week of Early Bird tickets!
This week is the final week of Early Bird tickets. If you want the absolute cheapest price to the absolute best finance event in Australia, then now is your time to act.
Across 5 stages, weāre going to have some of the best speakers and finance experts unpacking how everyone can take control of their money. Whether youāre a beginner or an experienced investor - there will be plenty there for you.
24 October. Carriageworks, Sydney. Secure your tickets today.
Gas giant collects $90m in free carbon offsets
One of Australiaās biggest offshore gas facilities has picked up more than $90 million in carbon credits over the past two years, despite increasing emissions by 400,000 tonnes in that time.
As Shell ramped up production at its Prelude offshore gas facility in WA and realised the benefits of scale, its emissions intensity (emissions per unit of output) have decreased. While Shell will not get these credits long-term, it is still a $90 million bonus for a company that has been in the spotlight for paying very little Petroleum Resource Rent Tax. (AFR)
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Using equity in your home to invest
Can you use the equity in your home to invest, and what are the traps people fall into?
We put this question to Adam Mastrosa, Director & Broker at Alcove.
Absolutely. It's one of the most common ways people fund their first investment property.
Just so we're clear, equity is the difference between what your property is worth and what debt you may have on it. If your home has increased in value over time, or you've paid down a decent chunk of the loan, there may be equity available that can be used towards something else.
The biggest mistake I see is people treating available equity like free money. Just because the bank is willing to lend against that equity doesn't necessarily mean you should use all of it. Having access to equity and having the cash flow to comfortably support additional debt are two very different things.
Another trap is leaving yourself with no buffer. Plenty of investors get excited about the next purchase and throw every available dollar at it. The reality is that things don't always go to plan. Tenants move out, repairs pop up, interest rates change and life happens. Having funds sitting in an offset account can provide valuable flexibility if circumstances change.
For some investors, strategies such as debt recycling may also be worth exploring. It's not the right fit for everyone, but it's something worth discussing with a qualified professional to see whether it aligns with your goals and circumstances. I also see people unintentionally create tax issues through poor loan structuring. How you access equity and how the debt is set up from day one can have long-term implications, and those mistakes can be difficult to unwind later.
Used properly, equity can be a fantastic tool for building wealth. The key is not simply maximising how much you can borrow, but making sure you're creating enough flexibility to adapt as your plans evolve.
Built equity in your property? Interested in speaking to a mortgage broker? Fill out the form on our website and weāll connect you to Adam or one of our hand-picked brokers.
