2026-27 FEDERAL BUDGET Major changes requiring careful planning
Explore our Federal Budget 2026-27 Alert, a summary of the announcements related to personal and business taxation and superannuation.
On 12 May, Treasurer Jim Chalmers handed down his fifth Federal Budget
The 2026–27 Federal Budget focused on tax reform, housing affordability and cost-of-living support. Key measures included the confirmation of previously legislated personal income tax cuts from 1 July 2026 and 1 July 2027, alongside a new $250 Working Australians Tax Offset and a proposed $1,000 standard deduction for work-related expenses.
The Budget also introduced major proposed reforms to capital gains tax, discretionary trusts and negative gearing from 2027 onwards, aimed at reshaping investment and property taxation.
For businesses, the Government announced the permanent extension of the $20,000 instant asset write-off for small businesses, the return of the loss carry-back regime, and measures to simplify PAYG tax payments.
While no major new superannuation measures were announced, attention remains on the upcoming payday super reforms and the Division 296 tax regime for balances above $3 million.
HLB Mann Judd’s Federal Budget Alert provides a succinct summary of the announcements related to personal and business taxation, tax compliance and superannuation.
Contact our advisers should you wish to learn more or prepare for any matters which may affect your business or personal situation.
Key Measures
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