Rate Rises, Tax Reform & What It All Means for Your Mortgage

Rate Rises, Tax Reform & What It All Means for Your Mortgage

Navigating the biggest shift in Australia’s property finance landscape in a generation

In the space of just a few months, Australian borrowers have faced a perfect storm: three consecutive RBA rate hikes, the abolition of negative gearing on new investments, a capital gains tax overhaul, the confirmed ban on SMSF residential property borrowing from 10 August 2026, and a dramatic tightening in the ability to borrow through trusts. As your mortgage broker, my job is to cut through the noise and tell you what it actually means for you.

1. The RBA’s May Rate Rise — The Third Strike

On 5 May 2026, the Reserve Bank of Australia raised the official cash rate by 25 basis points to 4.35% — the third consecutive increase in 2026, carried by an 8-1 majority of the Monetary Policy Board. In doing so, the RBA fully unwound every rate cut delivered during the 2025 easing cycle, which had brought the cash rate from 4.35% down to 3.60% through three cuts in February, May and August 2025.^[1]

Why Did the RBA Move Again?

The RBA’s assessment: inflation had not come down fast enough. After the 2025 cuts, private demand rebounded stronger than expected. Household spending accelerated, the housing market picked up, and businesses began passing on cost pressures to consumers. The Middle East conflict added further fuel through sharply higher global oil and fuel prices, pushing headline inflation materially higher.^[1]

The RBA’s own forecasts project trimmed mean inflation remaining above the 2–3% target band until late 2027, returning to the midpoint only by mid-2028. The May Board minutes confirmed members assessed that financial conditions at 4.10% were ‘not sufficiently restrictive’.^[3]

What Does 4.35% Mean For Borrowers?

The cumulative impact of 2026’s three hikes is material. For a borrower with a $700,000 home loan over 30 years, a 0.75% rise in the variable rate adds approximately $330–$350 per month to repayments — on top of any strain already carried from 2022–2023.^[4]

  Rate Impact Snapshot — $700,000 Loan, 30-Year Term

  Pre-2026 average variable rate: ~5.51% p.a.

  Post-3-hike average variable rate: ~6.26% p.a.

  Estimated monthly repayment increase: ~$330–$350/month

  Cumulative extra annual cost: ~$3,960–$4,200/year

  Source [4]: Aussie Home Loans / Canstar analysis, March 2026. Indicative only.

Both the February and March 2026 hikes were passed on in full by all major banks. The May hike was similarly passed through. The June 2026 meeting resulted in a unanimous hold at 4.35%, though with explicitly hawkish language about further moves ‘if required’.^[3]

What Happens Next?

Bank forecasts diverge significantly. NAB expects no further hikes and forecasts a gradual easing cycle reaching 3.6% by end-2027. ANZ expects the cash rate to hold at 4.35% through to end-2027. Westpac forecasts two further hikes in August and September. CBA has withdrawn its earlier forecast for late-2026 cuts.^[6]

Despite the higher rate environment, lender competition remains active. Eleven lenders — including ING, BOQ, Community First and Queensland Country Bank — have reduced at least one variable rate since the May hike to attract new borrowers.^[6]

My advice: If you’re on a variable rate and haven’t reviewed your loan in the past 6 months, now is the time. The gap between your existing rate and a competitive new-customer rate may be costing you significantly more than you realise.

  

2. Negative Gearing: The Rules Have Changed

On 25 June 2026, the Treasury Laws Amendment (Tax Reform No. 1) Bill 2026 passed both houses of Parliament. The negative gearing changes take effect from 1 July 2027 — giving investors approximately 12 months to understand and adapt.^[7]

What Has Actually Changed?

Under the old system, investors could offset rental losses on any investment property against their other income, including wages. Under the new system, negative gearing applies only to properties acquired before 7:30pm AEST on 12 May 2026. These changes apply to individuals, partnerships, companies and most trusts — widely held trusts and superannuation funds are excluded.^[17]

Properties purchased after the cutoff date generally do not qualify, with key exceptions:^[7]

•       New builds remain eligible under some scenarios

•       Owner-occupied properties converted to investment use before 12 May 2026 remain eligible

•       Commercial property purchases, refinances and equity releases remain eligible^[8]

•       Equity releases used to invest in shares or other income-generating assets remain eligible^[8]

Under the new model, rental losses on post-cutoff established residential properties are ‘quarantined’ — they can only be offset against other residential property income or capital gains from residential property. Excess losses carry forward to future years. This is a fundamental shift from the ability to offset losses against wages and other income.^[17]

The Lender Response: Serviceability Is Already Shifting

All major lenders have updated their serviceability calculators to remove negative gearing benefits for non-qualifying properties. Confirmed lender update dates:^[7]

•       Macquarie — 18 May 2026

•       Great Southern Bank — 21 May 2026

•       NAB and Connective Horizon — 26 May 2026

•       Suncorp Bank — 27 May 2026

•       ANZ — 28 May 2026

•       Commonwealth Bank — 28 May 2026

•       ING — 15 June 2026 (with transitional pipeline arrangements)

•       Westpac — 29 June 2026^[9]

•       ORDE Financial — 29 June 2026^[8]

Westpac’s new policy requires brokers to distinguish between negative gearing and rental income tax deductions (RITD), use an updated serviceability calculator, document customer conversations and obtain declarations confirming property acquisition dates and that independent tax advice has been recommended.^[9]

If you have an investment loan application in progress, the rules around serviceability are shifting rapidly. Some applications that were borderline under the old model may no longer pass. It is critical to get the numbers re-checked before you commit.

The Fairness Question

One of the most pointed criticisms of the reforms is the two-tiered outcome it creates. An established investor with a pre-May 2026 portfolio can still offset losses against trust or other income through their existing grandfathered properties. A first-time investor buying their first rental property cannot. One financial commentator calculated the same property might cost approximately $80 per week for an established investor versus $255 per week for a new investor — a difference of $175 driven entirely by tax policy.^[7]

Treasury Secretary Jenny Wilkinson candidly acknowledged the fiscal motivation: “Well, we need the money.” Former Housing Minister Tanya Plibersek stated: “We acknowledge that house prices will keep rising, but thanks to our measures, they won’t rise as much and as fast.”^[7]

  

3. Capital Gains Tax: A Fundamental Restructure

The CGT changes are the most technically complex element of the 2026 tax reforms and the least well understood by everyday Australians. Experts continue to identify anomalies and unintended consequences.

How CGT Worked Before the Budget

Under the previous system, assets held for more than 12 months received a 50% CGT discount. The remaining gain was added to taxable income and taxed at the holder’s marginal rate. With the top marginal rate (including Medicare levy) at 47%, the maximum effective CGT rate was 23.5%. Retirees with low taxable incomes often paid little or no CGT. The 50% CGT discount applied to individuals, trusts and partnerships.^[18]

What Has Changed Under the New Rules

From 1 July 2027, the 50% CGT discount for individuals, trusts and partnerships is replaced with cost base indexation and a 30% minimum tax rate. Investors will no longer receive a fixed 50% discount on nominal capital gains. Instead, taxable gains are calculated after adjusting for inflation, with real gains subject to the 30% minimum tax floor where relevant. Superannuation funds, including SMSFs, were explicitly excluded from the CGT discount changes and retain their existing concessional treatment.^[4]

  CGT Example: Same Shares, Very Different Tax Outcome

  UNDER OLD RULES: Buy $100,000 shares (July 2024), sell for $150,000 (June 2027)

     Gain: $50,000 → 50% discount → Taxable gain: $25,000

     Tax (low-income retiree): Potentially little or no tax

  UNDER NEW RULES: Buy $100,000 shares (July 2027), sell 3 years later for $150,000

     Cost base indexed to $110,000 (inflation-adjusted)

     Gain: $40,000 → Minimum 30% rate → Tax bill: ~$12,000

  Source [7]: Illustrative example adapted from The Adviser Briefing (client-supplied document)

Who Gets Hit Hardest?

Self-funded retirees face a particularly harsh outcome. A pensioner receiving Centrelink payments may be exempt from the new minimum rate regime. A self-funded retiree with the same income but no Centrelink support could face a 32% effective CGT rate — double the 16% marginal rate applying to the rest of their income below $45,000. The only material difference between them is whether the government sends them a cheque.^[7]

CPA Australia estimates the one-off cost of valuing assets before the new rules commence at between $675 million and $825 million, with ongoing compliance costs of up to $542 million per year. Treasury’s own estimate was just $88 million.^[7]

4. The SMSF Bombshell: Residential LRBAs Now Banned by Law

As part of the deal struck with the Greens to secure Senate passage, the government agreed to ban new Limited Recourse Borrowing Arrangements (LRBAs) for residential property within Self-Managed Super Funds. An LRBA allows an SMSF to borrow money to buy a single asset — typically property — held inside a bare trust. If the loan defaults, the lender can only claim that one property; the rest of the fund's assets remain protected. This structure has existed since 2007.^[2]

This is no longer a proposal. The Senate passed the bill on 25 June 2026 by 35 votes to 25, the House of Representatives agreed to the Senate amendments later that day by 98 votes to 39, and the Bill received Royal Assent on 26 June 2026. The 45-day commencement window is now locked in, confirming the ban takes effect on 10 August 2026.^[29]

The mechanism works by adding a new condition to the Superannuation Industry (Supervision) Act 1993: from 10 August 2026, if the asset being acquired under an LRBA is real property, it must meet the legal definition of ‘business real property’. Residential dwellings do not meet that test because they are not used wholly and exclusively in a business. In effect, the rule does not ban SMSF borrowing outright — it bans borrowing for any property that is residential in nature, while leaving commercial property, business premises, and LRBAs for shares or managed funds completely unaffected.^[32]

Critically, the ban applies even-handedly to new builds and established property alike. Unlike the negative gearing reforms — which still allow new builds to be negatively geared — there is no new-build exception here. SMSFs simply cannot borrow for any residential property, new or established, from the commencement date.^[36]

What's Grandfathered — and the Critical ‘Contract, Not Settlement’ Rule

Existing LRBAs are fully grandfathered and will not be unwound. Refinancing of existing pre-commencement borrowings is also expected to be protected, though the ATO has not yet settled whether a refinance could be treated as establishing a ‘new’ LRBA — professional advice is strongly recommended before refinancing any existing SMSF property loan.^[34]

The single most important detail for anyone currently planning an SMSF property purchase is this: protection is determined by when you sign the contract of sale, not by when the loan settles or when finance is formally approved. If you exchange contracts before 10 August 2026, your purchase is protected under the old rules even if settlement occurs afterwards. The 45-day window after Royal Assent exists to allow people already mid-transaction to finish, not to give new buyers extra time to start.^[30]

  SMSF LRBA Ban — Confirmed Timeline

  23 June 2026: Government and Greens announce the deal

  25 June 2026: Bill passes Senate (35-25) and House of Representatives (98-39)

  26 June 2026: Bill receives Royal Assent

  10 August 2026: Ban formally commences (45 days after Assent)

  Deadline that matters: contract of sale must be SIGNED before 10 August 2026

  Sources [29, 31, 35]: GrowSMSF / iCare Super / SMSF Australia, confirmed 26 June 2026

The government’s own figures put the policy in perspective. SMSFs account for less than 1% of total residential property borrowing in Australia and less than half a percent of new residential borrowing each year. Treasurer Jim Chalmers stated the change is expected to improve the budget bottom line by approximately $50 million over the forward estimates — a modest fiscal impact for what industry commentators have called the most significant restriction on SMSF borrowing since the LRBA exception was introduced in 2007.^[37]

The SMSF Association has criticised the manner in which the change was introduced, noting it was a late-stage Senate amendment without consultation or an evidence-based review process. The Association also pointed out the change goes further than the broader negative gearing reforms by not even permitting SMSFs to borrow for a new build — ‘that can only result in fewer homes being built and higher rents,’ said SMSF Association policy lead Tracy Hogan.^[34]

If you have been considering using your SMSF to borrow for a residential property, the deadline is real and it is close: contracts must be signed before 10 August 2026. Settlement can happen after that date, but the contract cannot. If you're serious about this strategy, the SMSF, bare trust, and finance approval all need to be moving this week — contact me immediately.

  

5. Borrowing Through Trusts: A Sector Under Siege

If the negative gearing changes, CGT overhaul and SMSF ban represent the legislative assault on property investors, then the simultaneous crackdown on trust lending by major banks represents the commercial response. Together, these forces have fundamentally changed the landscape for anyone who holds — or was planning to hold — investment property through a family trust or discretionary trust structure.^[12]

The 30% Minimum Tax on Discretionary Trusts

From 1 July 2028, a new 30% minimum tax will apply to the taxable income of all discretionary trusts in Australia. There are currently over 900,000 family trusts in Australia, many of which may be affected. The mechanism works as follows:^[6]

•       Trustees pay a minimum 30% tax on the trust’s taxable income each year, irrespective of how that income is distributed to beneficiaries

•       Beneficiaries continue to declare distributions in their personal tax returns

•       Non-corporate beneficiaries receive non-refundable tax credits for the tax paid at the trust level, which can reduce their personal tax liability^[17]

•       Beneficiaries on marginal rates above 30% pay a top-up at their personal marginal rate^[17]

•       Beneficiaries on marginal rates below 30% — such as non-working spouses, retirees, or adult children with low income — effectively lose the tax benefit of having distributions directed to them^[15]

•       Corporate beneficiaries do not receive credits, which prevents trusts from distributing to companies taxed at 25% to bypass the minimum tax^[17]

The minimum tax does not apply to fixed trusts, widely held trusts, complying superannuation funds, special disability trusts, deceased estates, or charitable trusts. Primary production income and income from assets of discretionary testamentary trusts existing at the time of the Budget announcement are also excluded. However, testamentary trusts established after 12 May 2026, and new assets contributed to existing testamentary trusts after that date, are not protected.^[5]

The Triple Hit on Trust-Held Investment Property

For property investors who hold residential investment property through a discretionary trust, the 2026 Budget delivers a compounding triple impact that is far greater than the sum of the individual parts:^[14]

•       Negative gearing is quarantined for properties acquired after 12 May 2026 — losses can only be offset against residential property income within the trust

•       Capital gains from 1 July 2027 are subject to indexation rather than the 50% discount, with the 30% minimum tax floor applying to real gains

•       From 1 July 2028, the underlying trust income itself is subject to the trustee-level 30% minimum tax^[14]

Existing residential properties held in discretionary trusts at 7:30pm AEST on 12 May 2026 are grandfathered for negative gearing purposes. In relation to these grandfathered properties, losses can continue to be applied against the trust’s other income until those properties are sold. But any new residential property acquired through the trust faces all three layers simultaneously.^[14]

This policy configuration signals a clear government preference: institutional capital over private family trust investment in residential property. The carveouts for widely held trusts and build-to-rent developments, combined with the retention of the affordable housing CGT discount, suggest that going forward the favoured structure for substantial residential investment is institutional, supply-creating, or government-aligned.^[5]

The Lender Retreat: Banks Pull Back from Trust Lending

Before the Budget was even handed down, the major banks had already begun retreating from trust lending — a trend that now combines with the new tax regime to create serious obstacles for trust borrowers.^[20]

In October 2025, Macquarie Bank — which held approximately 5.9% of the Australian mortgage market and originated 94% of its loans through the broker channel — announced an immediate pause on all new home loan applications where the borrower is a trust or company. Macquarie had been widely regarded by brokers as the leading lender for trust and company structures. Its withdrawal was described by industry professionals as a ‘bombshell’ and the end of ‘the golden era of unlimited borrowing capacity’.^[28]

Macquarie cited two primary reasons for its withdrawal: first, the emergence of social media-driven strategies promoting trust structures as a way to bypass normal serviceability limits; and second, the incoming Anti-Money Laundering Tranche 2 regulations, which impose additional identity verification requirements for trust and company loan applications, making them significantly more complex and time-consuming to originate.^[22]

Commonwealth Bank followed in November 2025, announcing it would only lend to trusts and companies where the guarantor has an existing banking relationship with CBA of at least six months. This requirement applies specifically to broker-introduced applications. St. George Bank quietly pulled out of trust lending entirely around the same period.^[25]

From 1 February 2026, APRA introduced a new Debt-to-Income (DTI) cap requiring APRA-regulated lenders to limit the share of new investment loans to borrowers with a debt-to-income ratio of six or more to a maximum of 20% of new lending. This ‘macro-prudential’ measure has further constrained borrowing capacity for highly leveraged investors, including many who use trust structures.^[24]

  Current Trust Lending Landscape — Where Things Stand

  Macquarie Bank: Paused all new trust/company lending (from 30 Oct 2025)

  Commonwealth Bank: Existing 6-month relationship required for trust borrowers

  St. George Bank: Withdrawn from trust lending

  ANZ, NAB, Westpac: Still lending to trusts, but with rigorous assessment

  Non-bank lenders: Increasing trust lending volumes, but often higher rates

  APRA DTI cap (from Feb 2026): Max 20% of new loans at DTI >6x

  Sources [13, 24, 25]: FINSTREET / Aus Investment Properties / MPA, 2026

What This Means If You Hold Property in a Trust

For investors currently operating through family trust structures, the picture is complex. William Xin, founder and director of Xin Mortgage, observed that trust and company lending is ‘likely to follow a similar path to SMSF lending — gradually becoming a preferred segment for non-bank lenders’ as the major banks continue tightening.^[25]

There is a planning window available before the trust minimum tax commences on 1 July 2028. Rollover relief is available for three years from 1 July 2027 for taxpayers wishing to restructure out of a discretionary trust into a company or fixed trust, with relief from income tax consequences including CGT. Small businesses and others contemplating this restructure should note that state stamp duty consequences can be material — particularly in Victoria, New South Wales and Western Australia where trust-to-company transfers may attract substantial duty on property holdings.

For borrowers who need to restructure, private and non-bank lenders are becoming an increasingly practical option. Private lending can assist with the tax liability arising from restructuring, transitional financing while the new structure is established, or the acquisition of additional property into the new entity, particularly where the new structure is better suited to commercial property or new builds.^[15]

If you hold investment property through a family trust, now is the time to review your structure — not in 2027 when the CGT rules commence, and not in 2028 when the trust tax lands. The planning window is now. Speak with both your accountant and your mortgage broker together, because the tax and the lending decisions cannot be made in isolation.

What It All Means for Borrowers: Your Action Plan

We are navigating one of the most complex environments Australian borrowers have faced in decades. Rate rises, tax changes, trust tax reform, and shifting lender policies are moving simultaneously. Here is how to think about your position:

If You’re an Owner-Occupier

The rate environment is your primary concern. With the cash rate at 4.35% and potentially higher later in 2026, variable rates remain under pressure. Since the May hike, eleven lenders have cut at least one variable rate to attract new customers. Lender competition is real, and your loyalty to your current lender may be costing you.^[6]

•       Review your current rate against the market — the gap between your existing rate and a competitive new-customer rate may be significant

•       Stress-test your budget at 5.5–6.0% in case further RBA hikes materialise

•       Maximise your offset account to reduce interest accrual in real time

•       If buying in the next 6–12 months, get pre-approval now and understand how rate movements affect your borrowing power

If You’re an Existing Property Investor (Personal Name)

Your situation depends critically on when you purchased your investment properties. Properties acquired before 12 May 2026 retain negative gearing entitlements under the old rules. All major lenders now require explicit verification of this for every new or refinanced investment loan.^[7]

•       Retain clear documentation of property acquisition dates and contracts of sale — lenders will ask

•       Understand whether each property in your portfolio is grandfathered under the old negative gearing rules

•       Review how the CGT changes affect your long-term exit strategy for assets acquired post-July 2027

•       Speak with your accountant about portfolio restructuring before the CGT rules commence in mid-2027

If You’re Considering a New Investment Property

New investment properties (contract signed after 12 May 2026) generally do not qualify for negative gearing against ordinary income. Your after-tax holding cost is higher, and your assessed borrowing capacity may be lower under updated lender serviceability models. CBA estimates this policy change will subtract 0.6 percentage points from annual property price growth by year end, and just under 1 percentage point through 2027.^[18]

•       Model your cash flow without negative gearing from day one

•       New builds retain some eligibility under specific scenarios — ask me which apply to your situation

•       Commercial property and equity releases for eligible investments retain negative gearing

•       Expect more rigorous lender assessment; prepare your documentation early

If You Hold Property or Plan to Borrow Through a Trust

This is where advice has never been more important. The combination of the 30% trust minimum tax (from 2028), the negative gearing quarantine, the CGT overhaul, and the bank retreat from trust lending creates a compounding set of challenges that must be assessed together.

•       Understand which of your trust’s properties are grandfathered (pre-12 May 2026) for negative gearing^[14]

•       Evaluate whether restructuring from a discretionary trust to a company or fixed trust makes sense before the 2028 tax lands

•       Be aware that rollover relief for restructures is available for three years from 1 July 2027 — but state stamp duty may still apply^[5]

•       If you need to borrow through a trust, Macquarie and St. George are no longer options; CBA requires a pre-existing relationship; ANZ, NAB and Westpac still lend to trusts but with stricter assessment^[25]

•       Non-bank and private lenders are increasingly filling the gap for trust borrowers, though typically at higher rates^[13]

•       Get your accountant and mortgage broker in the same room — the tax and lending decisions cannot be made in isolation

If You Have an SMSF

The SMSF LRBA ban is now confirmed law, with Royal Assent granted on 26 June 2026 and the ban commencing 10 August 2026. If residential property borrowing through your SMSF has been on your radar, the deadline is a signed contract of sale, not loan settlement. For those with existing SMSF residential loans, there is no forced change — your arrangement is fully grandfathered — and CGT within super retains its concessional treatment. But the rate environment and overall retirement projections are worth revisiting with your adviser.^[31]

Final Word

Australia’s property finance landscape has changed more in the past three months than in the previous three years. The combination of three rate rises, the negative gearing overhaul, the CGT restructure, the SMSF lending ban, and the wholesale retreat from trust lending represents a genuine generational shift in the rules of the game.

Much of this was rushed through without adequate consultation. The trust tax changes in particular will affect hundreds of thousands of family businesses and investors who did nothing wrong except to structure their affairs the way accountants and financial advisers had recommended for decades.

My role as your mortgage broker is to navigate this terrain with you. Whether you are refinancing, investing, restructuring a trust, protecting your SMSF, or simply making sure your current loan is still working for you — I am here.

“The right mortgage strategy isn’t just about the lowest rate — it’s about understanding the full picture and making sure your lending works with your tax position, your cash flow, and your long-term goals. That’s what I’m here for.” — Phil Aldridge, Mortgage Broker

Sources

All sources were accessed in late June and early July 2026. Inline references in the body of this blog correspond to the numbered sources below.

[1]  RBA Official Media Release — 5 May 2026 Rate Decision       Reserve Bank of Australia. Statement by the Monetary Policy Board. Decision to raise cash rate by 25bp to 4.35%, voted 8-1. rba.gov.au/media-releases/2026/mr-26-12.html

[2]  ClearTax.com.au — SMSF Borrowing Banned: What the New Rules Mean for You       Overview of LRBA ban announced 23 June 2026, Greens deal, bare trust mechanics, implementation timeline and government figures. cleartax.com.au/tax/news-and-updates/smsf-borrowing-banned

[3]  Trading Economics — Australia Interest Rate / RBA June 2026 Summary       Unanimous hold at June 2026 meeting; May 2026 Board minutes analysis; ‘not sufficiently restrictive’ assessment. tradingeconomics.com/australia/interest-rate

[4]  Hudson Financial Planning — SMSF Property Loan Ban 2026       SMSF CGT exclusion from discount changes confirmed; concessional super tax rates retained; LRBA implementation timeline. hudsonfinancialplanning.com.au

[5]  Holding Redlich — Federal Budget 2026-27: Three Tax Changes Reshaping Investment, Trust Structures and Business Planning       Authoritative legal analysis of trust reforms including triple-impact on trust-held residential property, testamentary trust exclusions, rollover relief, state stamp duty warnings, and government preference for institutional capital. holdingredlich.com

[6]  NAB Business — 2026 Federal Budget: What It Means for Individuals       30% minimum discretionary trust tax announcement; 900,000 family trusts potentially affected; trust exclusions; widely held trust carveout. business.nab.com.au

[7]  The Adviser — Industry Briefing, week of 25 June 2026 (client-supplied document)       Primary source for lender serviceability update timeline; negative gearing eligibility and cutoff rules; CGT examples and retiree impact; CPA compliance cost estimates; SMSF LRBA ban; ministerial quotes; fairness analysis including $80 vs $255/week holding cost comparison.

[8]  ORDE Financial — Servicing Policy Update, 29 June 2026 (via client-supplied document)       Full eligibility scenarios for negative gearing: commercial property, equity releases for shares, owner-occupied conversions, new-build scenarios.

[9]  Westpac — Credit Policy Update, 29 June 2026 (via client-supplied document)       Mandatory broker procedures: separate assessment of negative gearing vs RITD; updated serviceability calculator; ApplyOnline documentation; borrower declarations.

[10]  Perpetual Wealth — Federal Budget 2026 Analysis       Negative gearing quarantine mechanics; 30% minimum trust tax structure; beneficiary credit treatment; corporate beneficiary rules; recommendation to await final legislation. perpetual.com.au/insights/federal-budget-2026

[11]  SuperGuide — Federal Budget 2026 Overview       Updated budget overview incorporating 23 June 2026 Greens amendments; SMSF LRBA ban; 83% of CGT discount flowing to top 10% of earners. superguide.com.au

[12]  BrokerBros — Australian Federal Budget 2026: What It Means for Interest Rates, Property Investors, Home Loans & the Future of Australian Property       Discretionary trust 30% minimum tax; structural shift toward SPVs and corporate structures; lender tightening on trust/company lending. brokerbros.com.au

[13]  FINSTREET — Australian Mortgage Lending Outlook 2026: DTI Limits, Trust Lending Changes       Macquarie pause on trust lending (early 2026); CBA tightening; trend toward non-bank lenders for trust borrowers; broker strategy implications. finstreet.au

[14]  Holding Redlich — Federal Budget 2026-27 (triple-impact analysis)       Detailed analysis of the compounding three-layer tax impact on discretionary trust-held residential property: negative gearing quarantine + CGT indexation + 30% trustee minimum tax. holdingredlich.com

[15]  Secured Lending — Australia’s New Trust Tax Rules in 2026: What Property Investors Need to Know       30% minimum tax mechanics and effect on low-rate beneficiaries; private lending for restructure funding; rollover window analysis. securedlending.com.au

[16]  Latitude Accountants — Negative Gearing Changes 2026: What Investors Need to Know       Borrowing capacity reduction estimates of 20–30%; impact by borrower segment (first-time buyers, mum-and-dad investors, developers, high-income earners). latitudeaccountants.com.au

[17]  Perpetual Wealth / NAB — Budget Negative Gearing Rules (trust scope)       Negative gearing changes apply to individuals, partnerships, companies and most trusts; widely held trusts and superannuation funds excluded. perpetual.com.au / business.nab.com.au

[18]  Commonwealth Bank — 2026 Budget: Updated Housing Outlook       CGT discount replacement with indexation and 30% minimum; removal of negative gearing equivalent to 90–155bp increase in investor mortgage costs; price growth forecast revised to 3% for Dec 2026. commbank.com.au

[19]  Finance Monthly / Aus Investment Properties — How Mortgage Brokers Help Property Investors Maximise Borrowing Power in 2026       APRA 3% serviceability buffer; DTI cap from February 2026; trust income assessment in broker serviceability calculations. finance-monthly.com

[20]  Macquarie Bank / Broker Daily — Macquarie Bank to Pause New Lending to Trusts and Companies (30 October 2025)       Immediate pause on all new trust and company home loan applications from 31 October 2025; existing loans unaffected; AML Tranche 2 and social media finfluencer cited as reasons. brokerdaily.au

[21]  Broker Daily — Macquarie’s Halt on Trust and Company Loans Will ‘Reshape’ Broker Strategies (November 2025)       Industry broker reaction; Eva Loisance ‘pushback against loophole-driven lending’; Matt Turner on significance; St. George Bank withdrawal; prediction more lenders will follow. brokerdaily.au

[22]  Yahoo Finance / YourLifeChoices — Macquarie Bank’s ‘Bombshell’ Mortgage Move (October 2025)       94% of Macquarie loans through broker channel; Azure Financial Max Harris ‘golden era ending’ quote; ASIC finfluencer crackdown context. au.finance.yahoo.com / yourlifechoices.com.au

[23]  Capital Brief — CBA Joins Macquarie in Pulling Back from Trust Lending (January 2026)       CBA tightening on trust and company lending post-Macquarie; APRA signalling macro-prudential measures; finfluencer TikTok strategies cited. capitalbrief.com

[24]  Aus Investment Properties — What the New Macquarie & CBA Lending Clamp Down Means for Property Investors       APRA DTI cap from 1 February 2026: maximum 20% of new loans at DTI >6x; CBA six-month relationship requirement; non-bank lender alternative. ausinvestmentproperties.com.au

[25]  Mortgage Professional Australia — Why Have Macquarie, CBA Restricted Brokered Company and Trust Lending? (November 2025)       William Xin forecast that trust lending will shift to non-bank lenders; ANZ, NAB, Westpac still lending; regulatory risk weighting increases. mpamag.com

[26]  Aussie Home Loans — RBA May 2026 Rate Decision Analysis & Expert Predictions       Bank-by-bank rate forecasts (NAB, Westpac, ANZ, CBA); Canstar repayment estimates; 11 lenders cutting variable rates post-May hike. aussie.com.au

[27]  Westpac IQ Economics — RBA June 2026 Decision Analysis       Post-meeting hawkish language analysis; ‘stronger steer than in recent communication’; Westpac August/September hike forecast. westpaciq.com.au

[28]  NexGen Lending / YourLifeChoices — Macquarie Bank Pulls Out of Trust Lending: What It Means for You       Trust lending mechanics; Macquarie’s 5.9% market share; 94% broker-originated; AML Tranche 2 context; alternatives for trust borrowers. nexgenlending.com.au

[29]  GrowSMSF — SMSF Borrowing Banned: What the Labor-Greens LRBA Deal Means for You       Confirms Senate passage (35-25), House agreement (98-39) on 25 June 2026, and Royal Assent on 26 June 2026; confirms 10 August 2026 commencement date; explains contract-exchange protection rule. growsmsf.com.au/smsf-lrba-ban-2026

[30]  Hudson Financial Planning — SMSF Property Loan Ban 2026: What the Deadline Means for You       Clarifies that protection depends on contract signing date, not loan approval or settlement; SMSF establishment costs and timelines. hudsonfinancialplanning.com.au

[31]  iCare Super — SMSF Residential Property LRBA Ban Now Law – 10 August 2026 Deadline Confirmed       Confirms Royal Assent granted 26 June 2026 and commencement date of 10 August 2026; practical guidance for trustees, lenders and solicitors working within the compressed timeframe. icaresmsf.com.au

[32]  EEA Advisory — What the Proposed LRBA Ban Means for SMSF Investors       Explains the ‘business real property’ legal test under section 66 of the SIS Act; confirms residential dwellings do not meet this test; clarifies unleveraged residential purchases remain permitted. eea-advisory.com.au

[33]  ClearTax.com.au — SMSF Borrowing Banned: What the New Rules Mean for You (pre-passage version)       Early coverage as at 23 June 2026 noting the change was then still proposed; background on LRBA mechanics since 2007. cleartax.com.au

[34]  SMSF Adviser — More Details of LRBA Ban But Criticism Keeps Coming       SMSF Association criticism of lack of consultation; Treasurer Chalmers’ $50 million fiscal estimate and SMSF market-share figures; SMSF Association policy lead comments on new-build exclusion; refinancing uncertainty under ATO guidance. smsfadviser.com

[35]  SMSF Australia — SMSF Residential Property LRBA Ban: What You Need to Know       Confirms 10 August 2026 commencement following 26 June 2026 Royal Assent; explains the amended SIS Act clause; bare trust and finance approval practical timeline guidance. smsfaustralia.com.au

[36]  Heffron — LRBA Ban: What the Proposed Change Means for SMSFs       Detailed legal explanation of the ‘single acquirable asset’ and ‘business real property’ conditions; confirms no new-build exception unlike negative gearing reforms; commercial/business real property carve-out mechanics. heffron.com.au

[37]  The Adviser — Government Agrees to Ban Future LRBAs for Resi       Joint statement from PM Albanese and Treasurer Chalmers; Greens negotiating position and rationale; confirmation that existing arrangements and time to finalise transactions in train are protected; $50 million budget impact figure. theadviser.com.au

Disclaimer: This blog contains general information only and is intended for educational purposes. It does not constitute financial, tax or legal advice. Phil Aldridge is a licensed mortgage broker and does not provide tax advice. Please consult a qualified accountant, financial adviser or solicitor regarding the impact of these legislative changes on your individual circumstances. All figures are indicative only. Information current as at early July 2026.