30/06/2026
Happy New Financial year!
New things to look forward to this financial year:
1. New tax rates - the 16% tax bracket has now reduced to 15%
2. Pay Day Super - Super on income paid from today is to be in your superfund within 7 business days
3. The $1,000 Standard deduction relates to this new financial year (FY ending 30 June 2027).
12/06/2026
Time has nearly run out. If you want to make an extra super contribution this financial year and claim it on your tax return, it will need to be done now! Most super funds have cut off dates between now and the 29th June. Check with your super fund for their accepted dates.
12/05/2026
There was a lot in tonight's budget:
- Changes to capital gains
- Changes to negative gearing
- Changes to the taxing of discretionary trusts
- A permanent Instant Asset Write Off of $20k
- $250 Working Australian Tax Offset
- $1,000 Instant tax deduction for employees
The government has provided factsheets per the link below:
Budget 2026-27
Australian Federal Budget, 2026-27