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David Littleproud says farmers won major victory after Labor abandoned its plan to tax unrealised gains on farms held in self-managed super fundsNationals Leader David Littleproud says farmers have won a major victory after Labor abandoned its plan to tax unrealised gains on farms held in self-managed super funds. By news@gippsland - 13th October 2025 - Back to News Leader of The Nationals David Littleproud said farmers have had an enormous win, after Labor retreated on its poorly conceived, reckless and cruel plan to tax unrealised gains on farms held in self-managed super funds (SMSFs). 
David Littleproud said Labor's abandoned tax on unrealised farm gains was unfair, harmful to families, and showed a deep misunderstanding of farming realities Labor backflip reliefMr Littleproud said Labor had been embarrassingly forced to give in, after The Nationals and industry campaigned against the terrible plan and Labor faced a backlash across regional Australia. "Labor's plan to punish Australia's hardest workers and attack their unrealised gains in superannuation was shocking from the start and never should have happened." "Many families previously set up SMSFs as their future retirement and for succession planning, unaware Labor could come for their assets every single year. Labor could never even tell us how many primary producers, small and family business owners would have been impacted. In what parallel universe does a government think it's okay to tax on-paper, unrealised gains?" he said. Farmers deserve apologyMr Littleproud also said, "Throughout the process, Labor also demonstrated they have no understanding of the vagaries of farmers' cash loss that are impacted by not just weather but commodity prices during bad seasons. Labor's plan would have forced farmers to sell their land, instead of passing it onto their families. We are relieved Labor has backflipped, but this policy never should have seen the light of day. "Labor should apologise to the farming community for the stress and uncertainty they have caused. Our farmers who produce the nation's food and fibre must be protected from Labor's tax grabs. The Nationals will always stand up for our farmers and that includes their assets," Mr Littleproud said. Pictures from David Littleproud MP Instagram page.
Source: http://gippsland.com/ Published by: news@gippsland.com
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