TAH t/a RJ Maggs Accountants

TRUSTS UNDER THE SPOTLIGHT
One of the proposed Federal Budget measures is the introduction of a minimum 30% tax rate on trust distributions to adult beneficiaries from 1 July 2028.
While legislation has not yet been passed, family groups using discretionary trusts should start reviewing their structures now.
🔍 What should you look out for?
• Current trust distribution strategies
• Adult children receiving trust distributions
• Beneficiaries on lower tax rates
• Asset protection and succession planning arrangements
• Whether a company beneficiary may be appropriate

For many families and business owners, trusts remain an effective structure. However, if these changes proceed, the tax benefits of distributing income to lower-income adult beneficiaries may be significantly reduced.
The earlier you review your structure, the more options you may have available.
If you operate through a family trust, now is the time to start planning ahead.

Tax Case Update: Shell Energy Wins CGT Valuation Dispute

The Federal Court recently ruled in favour of Shell Energy Holdings Australia Ltd in a significant Capital Gains Tax (CGT) case.

The Court found that a large shareholding should not always be valued at the listed market price alone. In Shell's case, its 34.27% holding in Woodside Petroleum attracted an 18% control premium because the stake provided significant influence over the company.

💡 Key takeaway for investors and business owners:
When valuing shares for tax purposes, factors such as control, influence and strategic value may need to be considered—not just the share price on the stock exchange.

This decision highlights the importance of obtaining appropriate valuation advice when dealing with large shareholdings, restructures or CGT events.

From 1 July 2026, employers will be required to pay superannuation at the same time as wages.

This means:
✅ Super must be paid on or before payday
✅ Less time to manage cash flow
✅ Payroll systems may need updating
✅ Increased ATO visibility on unpaid super

For many businesses, this is one of the biggest payroll changes in recent years. Planning ahead now can help avoid compliance issues and cash flow surprises.
If you're a business owner and you're unsure how Payday Super will affect your business, now is the time to review your payroll processes and budgeting.

Need help getting ready? Contact our team today.

ATO Update for Rental Property Owners
Do you own a holiday home that you also rent out?
The ATO has released new guidance on rental property deductions. If your property is not primarily used to earn rental income, deductions such as interest, council rates, body corporate fees, depreciation and capital works may be denied.
If there is some private use, deductions may still be available, but expenses must be correctly apportioned.
With increased ATO focus on holiday homes and short-term rentals, now is a good time to review your records and ensure your claims are compliant.
Need help reviewing your rental property deductions? Contact our team today.

Wage Increase Effective 1 July 2026
The Fair Work Commission has announced an increase to the National Minimum Wage and modern award wages from 1 July 2026. The National Minimum Wage will increase to $26.44 per hour ($1,004.90 per week), while most award wages will rise by 4.75%.
What this means for employers:
✔ Review employee pay rates
✔ Update payroll systems
✔ Check award classifications
✔ Budget for increased wage and superannuation costs
Need help understanding how these changes affect your business?
Contact RJ Maggs Accountants for practical advice and payroll compliance support.

Federal Budget Changes Are Here!
Do you know how the latest Budget measures could affect your tax, investments, business, or family wealth?
We help you understand what the changes mean and how to make the most of every opportunity.
Book your tax planning appointment today and stay one step ahead..

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