Reading Room - Taxation

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.

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.

The Government’s big moment in the 2025-26 Federal Budget was the personal income tax cuts. Income tax cuts are a dazzling headline but in reality they deliver a tax saving of up to $268 in the 2026-27 year

The Fringe Benefits Tax (FBT) year ends on 31 March. We’ve outlined the hot spots for employers and employees including electric cars, equipment for working from home, entertainment and contractors.

If credit card surcharges are banned in other countries, why not Australia? We look at the surcharge debate and the payment system complexity that has brought us to this point.

The ATO thinks wealthy babyboomers are planning and structuring to dispose of assets in a way in which may constitute tax avoidance.