NEWS & UPDATES

The Federal Government has announced significant reforms to the taxation of discretionary trusts as part of the 2026–27 Federal Budget. These changes introduce a 30% minimum tax on discretionary trust income, representing one of the most substantial trust tax reforms in decades. Below is a summary of the key changes and what they mean for you. 1. 30% Minimum Tax on Discretionary Trusts (from 1 July 2028) A 30% minimum tax will apply to discretionary trust income at the truste

Minimum wages increased to $26.44 Per hour We wish to inform you that the national minimum wage will increase to $26.44 per hour, effective 1 July 2026, following the Fair Work Commission’s annual wage review. This change may affect payroll calculations, rostering, budgeting, and award‑based entitlements for eligible employees. We recommend reviewing your current staffing arrangements to ensure compliance from the effective date. Our team will be updating payroll systems and

Motor vehicle expenses incurred in the course of deriving assessable income or in carrying on business are allowable deductions (ITAA97 s...

Roll-over relief automatically applies in certain cases involving the transfer of assets as a result of the breakdown of a marriage or a...