Fundamental reforms to the property taxes 26 May 2026 Replacing the 50% CGT discount with indexation From 1 July 2027, the 50% CGT discount will be replaced by cost base indexation for assets held for more than 12 months, with a 30% minimum tax on net capital gains. These changes will apply to all assets, including pre-CGT assets, held by individuals, trusts and partnerships. Transitional arrangements will limit the impact on existing investments by ensuring the changes only

Tribunal decision regarding home office and car expenses overturned 26 May 2026 The Full Federal Court recently allowed the ATO's appeal against an Administrative Review Tribunal decision that a taxpayer was entitled to claim deductions for home office and car expenses. The taxpayer worked full-time for the ABC as a sports presenter and producer. During the 2021 income year, because of COVID-19 pandemic restrictions, the taxpayer undertook one of his work roles from a second

ATO targeting personal service income businesses 30 April 2026 The Australian Taxation Office (ATO) recently issued a new ruling, PCG 2025/5, which significantly changes the "safety" of using a company or trust to manage income earned from your own personal skills (Personal Services Income or PSI). In short: The ATO view is that passing the "Personal Services Business" (PSB) tests is no longer sufficient for splitting income with a spouse or keeping profits in a company.