If you have a trust (discretionary/family or unit trust with special units), your annual trust distribution minutes must be prepared and signed before 30 June.
A Self-Managed Super Fund (SMSF) is a private superannuation fund that you run yourself for the purpose of building retirement savings. Unlike retail or industry funds, an SMSF gives its members direct control over investment decisions and fund management. For many, this flexibility is part of the appeal.
If you’re retired and drawing a pension from your super, now is a good time to review your fund before the end of the financial year.
The Treasurer described this as one of the most significant tax transformations in decades, and for many business owners and investors, it represents a substantial shift in how wealth, structures and investment strategies are taxed.
The ATO is intensifying its focus on fringe benefits tax (FBT), with increased reviews, data matching, and crackdowns on non-lodgers signalling that FBT can no longer be treated as a low-priority compliance area.
From 1 July 2026, Payday Super will fundamentally change how businesses manage cash flow.
Many businesses operate through multiple entities, with each entity holding different parts of the business, such as intellectual property, premises, or other assets. In businesses structured this way, it is common for one entity to charge another a fee for the use of these assets.
Discussion around tax reform is increasing ahead of the 2026/27 Federal Budget. Attention has already been on tax reform however, current economic conditions are expected to intensify pressure for more comprehensive changes.
Last week, the Federal Government passed legislation introducing a new tax on very large superannuation balances. Division 296 tax or the $3 Million Super Tax as it is known by the media, will apply from 1 July 2026 and targets individuals whose total super balance exceeds $3 million.