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.
In family trusts, a beneficiary can be “presently entitled” to trust income. This means the trust has allocated income to the beneficiary but it has not been paid. This is called an unpaid present entitlement (UPE). In simple terms, this means the trust owes money to the beneficiary.
From July 2026, Australia will introduce significant updates to its AntiMoney Laundering and CounterTerrorism Financing (AML/CTF) laws.
Income splitting has historically been used by professionals and small business owners as a way to manage their tax.
From 1 July 2026, the way employers must pay superannuation is changing significantly.
The Australian Securities and Investment Commission (ASIC) has recently announced a change to the way company directors residential information will be displayed on public company records.
In early February 2026, the Reserve Bank of Australia (RBA) raised the official cash rate by 25 basis points to 3.85%, marking its first interest rate increase since late 2023.
With the property market continuing to grow, more people are buying, developing and selling property.