Stay ahead of the new financial year with our latest tax update. We highlight key actions to consider before 30 June 2026 and outline important tax, superannuation, and payroll changes commencing from 1 July 2026.

ATO scam calls are becoming more sophisticated — but a new feature in the ATO app now makes it easier than ever to protect yourself. The ATO’s new ‘Verify Call’ tool allows taxpayers to instantly confirm whether a caller is genuinely from the ATO, helping reduce the risk of scams, identity theft, and fraudulent refund activity. With tax time approaching, now is the ideal time to update your app, strengthen your myID security, and stay one step ahead of scammers.

The 2026–27 Federal Budget introduces some of the most significant proposed tax and housing reforms in recent years. Key measures include changes to negative gearing and the CGT discount, a minimum 30% tax on discretionary trust distributions, a permanent $20,000 instant asset write-off for small business, and new tax relief measures for workers and low-income earners.

The ATO is tightening FBT checks on work vehicles. Dual-cab utes aren’t automatically exempt, and any private use may trigger FBT. Accurate apportionment, proper records, and timely lodgement are essential to avoid penalties and audits. A proactive approach helps protect cash flow and ensure compliance.

With Director Penalty Notices (DPNs) up 136% in 2024–25, the ATO is increasingly holding directors personally liable for unpaid PAYG, GST, and super. This surge has triggered a Tax Ombudsman review into how these notices are issued and enforced.

Australia’s Electric Car Discount offers significant tax savings through FBT exemptions and higher LCT thresholds for eligible EVs. Although the rules are under review, no changes have been announced—making now a smart time to consider your options.

Running (or setting up) a self-managed super fund gives trustees flexibility — but it also brings strict legal obligations under the Superannuation Industry (Supervision) Act 1993. Many SMSF breaches occur simply because trustees don’t fully understand their duties.

Support is available for those affected by the Victorian bushfires. Corbetts is here to help guide you through recovery, relief options, and next steps.

As the festive season approaches, it’s important for employers to understand how FBT applies to staff celebrations, gifts and events. Many benefits — such as on-premises food and drink or minor benefits under $300 — may be exempt from FBT if certain conditions are met. Our guide outlines what’s taxable, what’s exempt, and how to plan year-end celebrations without unexpected tax costs.

ATO interest charges (GIC and SIC) are no longer tax-deductible, making unpaid tax debts more expensive. Businesses may still deduct interest on loans used to pay tax debts linked to business activities, but not for personal or investment income. Refinancing ATO debts could lower costs.