Reading Room

The amount of money that can be transferred to a tax-free retirement account will increase to $2m on 1 July 2025. If you're already taking a retirement income stream, indexation applies to your unused transfer balance cap.

In the 2025-26 Federal Budget the Government announced a ban on non-compete clauses and “no poach” agreements.

The SG definition of an employee is broad and just how far it extends has sparked debate of late about the rights of performers, gym instructors and others not typically considered employees.

From 1 July 2026, personal income tax rates will change. On the last sitting day of Parliament, the personal income tax rate reduction announced in the Federal Budget was confirmed.

Australia’s economy is expected to grow, albeit slowly, at 2.25% in 2025-26 and 2.5% in 2026-27. Plus, we’re back in a deficit and unemployment is expected to peak at 4.25%.

The Government has set aside $999m over 4 years for the ATO to expand its compliance programs. It also intends to further pair back its use of consultants, contractors and labour hire.

The Government will ban non-compete clauses for low and middle-income employees. Indexation on draught beer excise will be paused for two years.

The Government will provide a “modest” tax cut to all taxpayers plus the Medicare levy thresholds are increased for low-income earners.