On 2 July 2026, the Government introduced the Treasury Laws Amendment (Strengthening Accountability for Tax Adviser Misconduct and Other Measures) Bill 2026.
Key measures include:
- Schedule 1: Changes the Tax Agent Services Act 2009 to give the Tax Practitioners Board (TPB) new and stronger powers to issue regulatory penalties. These changes aim to better protect taxpayers from poor or unlawful tax advice and discourage inappropriate conduct by both registered tax practitioners and unregistered tax preparers.
- Schedule 2: Strengthens the foreign resident capital gains tax (CGT) rules by making changes to Division 855 of the ITAA 1997 and related tax legislation.
- Schedule 3: Introduces a temporary 50% CGT discount for certain foreign investors who dispose of Australian renewable energy assets. The discount will apply to CGT events from the commencement of the measure until 30 June 2030.
- Schedule 6: Adds three new deductible gift recipients (DGRs), extends the listing of two existing DGRs, and updates the name of one DGR.
- Schedule 8: Allows taxpayers to claim a tax credit for amounts withheld under Subdivision 14-D in the same income year in which the underlying transaction is recognised for tax purposes, provided the withheld amount has been paid to the Commissioner.