Many Australians are surprised to learn that their superannuation account includes insurance cover. In fact, millions of superannuation accounts hold life insurance, total and permanent disability (TPD) insurance, or income protection cover as part of their membership. While insurance through super can provide valuable protection, many people are unsure about the level of cover they […]
Social media has become a popular source of financial information, with millions of Australians turning to online platforms for investment tips, budgeting advice and wealth-building strategies. While there is certainly valuable educational content available, the rise of financial influencers, commonly known as “finfluencers”, has also created new risks for consumers. Recent action by the Australian […]
With the 2026–27 Federal Budget introducing a proposed $1,000 standard work-related expenses deduction and a new $250 Working Australians Tax Offset (WATO), many taxpayers are asking an important question: what is the difference between a tax deduction and a tax offset? While both can reduce the amount of tax you pay, they operate in very […]
The 2026–27 Federal Budget delivers a range of measures aimed at supporting Australian businesses, encouraging investment, and fostering innovation. While several initiatives provide immediate relief for small businesses, others introduce significant changes that may influence business structures and tax planning strategies in the years ahead. Permanent Extension of the Instant Asset Write-Off One of the […]
The 2026–27 Federal Budget introduces several significant tax measures that will impact individuals, investors and business owners over the coming years. Personal Tax Relief for Australian Workers From 1 July 2027, eligible workers will benefit from a new $250 Working Australians Tax Offset (WATO), increasing the effective tax-free threshold on employment income to $19,985. This […]
The May 2026 Federal Budget introduces some of the most significant proposed tax reforms Australia has seen in decades. While a small number of measures provide modest relief for employees and small businesses, the broader direction of the Budget is clear: investment structures, discretionary trusts, capital gains and property tax concessions are all coming under […]
Capital Gains Tax (CGT) overhaul proposed from 1 July 2027 One of the most significant announcements in the Budget is the proposed overhaul of Australia’s CGT system. The current 50% CGT discount for individuals and trusts is proposed to be replaced with inflation indexation of the cost base. In practical terms, taxpayers would no longer […]
Instant asset write-off made permanent In positive news for small businesses, the $20,000 instant asset write-off for businesses with turnover under $10 million has been made permanent. This provides ongoing certainty for businesses investing in vehicles, equipment, computers, technology and office fit-outs. Loss carry-back rules return From 1 July 2026, eligible companies with turnover under […]
Previously legislated personal tax cuts continue.No major new personal tax cuts were announced in the Budget, however previously legislated reductions remain scheduled to proceed. The tax rate applying to income between $18,201 and $45,000 will reduce from 16% to 15% from 1 July 2026, and then to 14% from 1 July 2027. Tax savings remain […]
The upcoming shift to “payday super” represents one of the most significant changes to employer superannuation obligations in decades. With implementation commencing 1 July 2026, businesses should now be actively preparing—particularly for the transitional cash flow pressures that will arise during July. What is changing? Under the new regime, employers will be required to pay […]
A recent decision by the Fair Work Commission is set to reshape junior wage structures across key sectors of the Australian economy. The ruling introduces a pathway for certain young workers to receive full adult pay rates, with implementation commencing from December 2026. While the decision is primarily an employment law development, it carries important […]
The Australian Securities and Investments Commission has recently released a new suite of tools and resources aimed at improving retirement planning outcomes for Australians. The initiative follows national research highlighting persistent concerns around financial preparedness, literacy, and confidence among pre-retirees. Key findings from ASIC’s research ASIC commissioned a study of 2,065 Australians aged 45 to […]
The Federal Government has released draft legislation proposing a new “instant” standard tax deduction of $1,000 for work-related expenses. If implemented, this measure would allow eligible taxpayers to claim a flat deduction at tax time without the need to retain receipts—replacing the current $300 no-receipt threshold administered by the Australian Taxation Office. It’s important to […]