From Payday Super to Federal Budget changes coming into effect, 1 July 2026 brings changes you can’t afford to ignore, whether you run a practice or are focused on your personal finances.
Super for staff must now be paid at the same time as wages, with contributions reaching funds within seven days. For employers, this means tighter cash flow planning, more frequent payments and near real-time reporting.
The $20,000 instant asset write-off is here to stay. Eligible small businesses can immediately deduct assets under the threshold, making it easier to invest in equipment, tech or tools without second-guessing timing.*
Loss carry-back rules are back, allowing eligible businesses to offset losses against prior profits and potentially receive cash refunds.*
A significant change to discretionary trusts is coming, with a proposed 30% minimum tax on trust income from 1 July 2028. While not yet legislated, this signals a major rethink for family groups, investors and business owners using trust structures, making early review and proactive advice critical.
Division 296 will officially commence 1 July 2026, meaning an additional 15% tax on earnings relating to superannuation balances above $3 million, and 30% above $10 million. It signals a broader shift in how wealth held in super is taxed, making structure, timing and long-term planning more important than ever.
These changes aren’t just compliance updates, they’re planning opportunities. Getting ahead early puts you in control. Contact the experts at Cutcher & Neale for a no-obligation complimentary consultation today.
*The loss carry-back and instant asset write-off measures will not apply until the legislation has been passed through Parliament.