The Government has recently legislated several of the tax reform measures announced in the 2026 Federal Budget (and in later media releases). These include, among other things: - Replacing the CGT discount with cost base indexation and a 30% minimum tax on gains accruing from 1...
The Federal Government handed down the Federal Budget on 12 May 2026, with some of the biggest changes to the tax system in years. Some of the main proposed changes include: Delivering a new Working Australians Tax Offset ('WATO') to provide a permanent annual $250...
The ATO is currently focusing on the following 'specific risk areas', where it is concerned "small businesses are getting it wrong": - Contractors omitting income — with a focus on data matching to ensure all income is reported. -Quarterly to monthly BAS reporting for GST purposes —...
The Government recently passed legislation making changes to the foreign resident capital gains withholding laws (among other changes). Foreign resident capital gains withholding is relevant for all vendors selling certain taxable real property (e.g., Australian land). Even Australian residents can be caught by these laws because, if...