Reading Room - Taxation
One of the big structural changes in the 2026-27 Budget is the introduction of a minimum 30% tax on the income of discretionary trusts, effective from 1 July 2028.
Under the Budget, the full FBT exemption will be phased out and replaced with a permanent 25% FBT discount and existing arrangements will be grandfathered.
Budget business measures include permanent extension of the instant asset write-off, the reintroduction of loss carry-back and reforming the R&D Tax Incentive.
For individual taxpayers, the 2026-27 Budget confirms previously legislated tax rate cuts and two new measures designed to ease cost-of-living pressures.
Negative gearing for established residential property is restricted from 1 July 2027. Properties acquired before 7:30pm AEST on 12 May 2026 are grandfathered.
From 1 July 2027, the 50% CGT discount for assets held more than 12 months will be abolished and replaced with CPI-based cost base indexation.
More Australians are turning to AI for answers on tax deductions, super and structuring decisions. The responses sound authoritative but they are frequently wrong.
The Federal Government's Electric Car Discount is now under formal review. But changes could occur as early as this year's Federal Budget.
The ATO has released a draft ruling that changes how inherited homes are treated for capital gains tax (CGT). What are they and will they impact your family?
