August 2026 – Practice Update

Government to permanently extend $20,000 instant asset write-off The Government has recently introduced legislation that would make the $20,000 instant asset write-off permanent for small businesses (as announced in the 2026 Federal Budget). If enacted, the changes would: permanently set the instant asset write-off threshold at $20,000 (instead of $1,000) for eligible depreciating assets first...

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July 2026 – Practice Update

Government’s tax reform package The Government has recently legislated several of the tax reform measures announced in the 2026 Federal Budget (and in later media releases).  These include, among other things: Replacing the CGT discount with cost base indexation and a 30% minimum tax on gains accruing from 1 July 2027 (including gains on pre-CGT...

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June 2026 – Practice Update

2026 Budget: The Big Changes   Some of the main proposed changes include: Delivering a new Working Australians Tax Offset (‘WATO’) to provide a permanent annual $250 tax offset to all eligible Australian workers.  This applies to eligible income earned from 1 July 2027 (i.e., from the 2027/28 income year). Introducing a $1,000 instant tax deduction...

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