2026-27 Federal Budget - Loss carry back for some companies and loss refundability for small start-up companies Loss carry back From 1 July 2026, companies with global turnover under $1 billion will be able to carry back revenue tax losses and offset them against tax...
2026-27 Federal Budget - Making tax simpler for small and medium businesses The Government will amend the tax law to streamline the tax system for small and medium-sized businesses in relation to assets and PAYG instalments as set out below: Instant asset write-off...
2026-27 Federal Budget - Working Australians $250 Tax Offset As part of the 2026-27 Federal Budget, the Government will introduce a $250 Working Australians Tax Offset (WATO). It will offer a permanent annual tax offset for income earned by Australian workers,...
Proposed Minimum Tax on Discretionary Trusts The Government plans to introduce a 30% minimum tax on discretionary trusts to improve the tax system and fund new worker tax cuts. From 1 July 2028, trustees of discretionary trusts will have to pay a minimum tax of 30% on...
From 1 July 2027, negative gearing will be limited to new residential properties, and the 50% CGT discount will be replaced with cost base indexation and a 30% minimum capital gains tax. Negative Gearing Negative gearing occurs when investment income from rental...
Part IVA on property development arrangements with long-term contracts The ATO has released draft PCG 2026/D2. It explains how the ATO will approach compliance where Part IVA may apply to property development arrangements between related parties, especially those...
$1,000 Instant Tax Deduction – Exposure Draft The Australian government has released a draft bill that would create a new $1,000 standard deduction for work-related costs starting in the 2026–27 income year. This measure is meant to make it easier for Australian tax...
Superannuation advertising ban The Treasury Laws Amendment (Supporting Choice in Superannuation and Other Measures) Act 2025 received Royal Assent as Act No. 12 of 2026. The Act introduces several changes across tax and superannuation laws. It simplifies how employees...
Fuel Tax Credit Rate Changes from 1 April 2026 The ATO has updated the fuel tax credit rates that will apply from 1 April 2026, following a temporary 60.9% reduction in fuel excise. From 1 April to 30 June 2026, the heavy vehicle road user charge will be set to 0....
Startup businesses often start recording financial transactions using simple spreadsheets and DIY bookkeeping. In the starting stage, monitoring and recording transactions feels manageable, and managing the basics yourself can save money. However, when your business...