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 […]
CGT concessions allow you to reduce – or in some cases, completely eliminate – the capital gain from the sale of a business asset, whether it’s held directly by your business entity or in another related structure. What’s more, the concessions also allow you to make extra super contributions – sometimes up to $1,515,000 – […]
With reduced company tax rates available for some businesses in recent years, and changes in eligibility for capital gains tax (CGT) small business concessions, it’s become increasingly important for us to understand how the law and the ATO deal with concepts like “small business entity” and “carrying on a business”. New guidance is now available […]
The Administrative Appeals Tribunal (AAT) has decided that a property a small business owner used to store materials, tools and other equipment was an active asset for the purpose of the small business capital gains tax (CGT) concessions. The taxpayer carried on a business of building, bricklaying and paving through a family trust. He owned […]