Last week, the Federal Government released a consultation paper outlining its proposed 30% minimum tax on discretionary (family) trusts. It is important to note that these proposals are not yet law and remain subject to consultation and potential change. Treasury is currently seeking submissions from industry and stakeholders, with consultation open until 31 July 2026….
Amidst the noise of the recent Federal Budget announcements, an important and contentious superannuation measure is set to commence shortly. From 1 July 2026, individuals with a total superannuation balance (TSB) exceeding $3 million will be subject to the new Division 296 tax. This tax applies to a portion of superannuation earnings and is assessed…
After weeks of speculation and leaks, last night we finally saw the Federal Budget in full. The Government has made its intentions clear – to reduce tax benefits for investors and some business operators, while attempting to reshape the property market in favour of owner-occupiers. There is a significant amount to work through. At a…
From 1 July 2026, employers will be required to pay superannuation at the same time as salary and wages, rather than quarterly. This means super will need to be paid weekly, fortnightly or monthly, depending on your pay cycle. Importantly, the super contribution must be received by the employee’s super fund within 7 days of…
The Australian Taxation Office (ATO) has announced targeted relief measures to assist businesses experiencing cashflow pressure as a result of the current fuel crisis. These measures apply from 1 April 2026 and are currently available until 30 June 2026. What support is available? The ATO has introduced a Fuel Response Payment Plan and confirmed a…