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...
Transfer balance cap The ATO has released an addendum to LCR 2016/9 to: Further explain how proportional indexation applies to the transfer balance cap and superannuation income streams that are subject to a commutation authority. Clarify how general principles apply...
TPB guidance on the use of AI The Tax Practitioners Board (TPB) has released guidance to help tax practitioners understand their obligations under the TASA Code when using AI to provide tax agent services. The TPB recognises that, when used in the right way, AI can...
Consultation on discretionary trust reform The Treasury has released a consultation paper on the proposed 30% minimum tax on discretionary trusts, which was announced in the 2026-27 Federal Budget. The proposed measure will introduce a 30% minimum tax on discretionary...
Treasury Laws Amendment (Tax Reform No. 1) Bill 2026 Income Tax Rates Amendment (Tax Reform No. 1) Bill 2026 The Treasury Laws Amendment Bill 2026 and the Income Tax Rates Amendment Bill 2026 have passed both Houses of Parliament, with several amendments, and have...
Reasonable travel and overtime meal allowance amounts for 2026-27 TD 2026/4 has been released by the ATO, which sets out the amounts that it considers reasonable for the 2026-27 income year in respect of the substantiation exception for overtime meal allowance...
From the Regulator FTC calculator The ATO updated its Business Activity Statement (BAS) fuel tax credit (FTC) calculator to reflect the new FTC rates due to the temporary fuel excise reduction. The reduction was made to the fuel excise on petrol and diesel by 60.9%...
From the Government Tax reform legislation passed Treasury Laws Amendment (Tax Reform No. 1) Bill 2026 and the Income Tax Rates Amendment (Tax Reform No. 1) Bill 2026 received Royal Assent on 26 June 2026, and are now law. This means that the replacement of the CGT...
The end of the financial year is approaching fast, and now is the right time for SMSF members and trustees to re-check their fund. Taking a few things into account before 30 June can help avoid problems later and ensure you don’t miss valuable tax and contribution...
RBA to Ban Card Payment Surcharges from October 2026 The Reserve Bank of Australia (RBA) has confirmed that from 1 October 2026, businesses will no longer be allowed to charge surcharges on credit and debit card payments made through EFTPOS, Mastercard, Visa, and...