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From 1 July 2027, the Federal Government proposes to limit negative gearing for residential properties to new builds only, with the stated aim of supporting new housing supply.

In more welcome news, the annual superannuation contribution caps are scheduled to increase from 1 July 2026. So let’s look at this first.

The ATO has the power to impose penalties for the late lodgement of documents due, including:

The Payday superannuation rules are now law, so employers need to ensure they are ready to comply prior to 30 June 2026.

Since the budget, the ALP have announced a 12 month extension of the $20,000 instant asset write-off rules, allowing businesses to continue to claim an immediate tax deduction for the purchase of assets under the $20,000 threshold.  

New wage theft legislation has been implemented as of January 1, 2025. This legislation criminalises the deliberate underpayment of an employee’s wages or entitlements. Deliberate underpayment involves knowingly paying less than the required minimum entitlements or failing to pay an employee on time.

I. Taxpayers – reducing the lower personal income marginal rates

As part of our comprehensive tax and business planning, we can provide valuable insights by conducting an in-depth analysis of your business’ performance in the current financial year, and comparing this to forecasts and prior year actual results. Your business’ performance should always be viewed in the context of current economic and market conditions. 

FBT is a tax paid by employers on certain perks provided to employees or their family members – think company cars, entertainment expenses, and even university fees. FBT is separate from income tax and GST, meaning it needs to be reported and lodged separately.

We recommend seeking advice before buying or selling a property to ensure you are aware of the potential GST implications. Our experienced team at BLG Business Advisers is here to help so please feel free to talk with us. Our team are Wollongong Accountants who service right around Australia. There is no cost or commitment involved in an initial chat with us, which leaves you free to decide if we are the right fit for you.