OVERVIEW The 2026-27 Federal Budget introduces significant tax reforms focused on capital gains tax (CGT) restructuring, residential property negative gearing restrictions, discretionary trust taxation, and targeted support for working Australians and small businesses. These changes will have considerable implications for individual taxpayers, investors, and businesses across Australia. THE BIG THREE Replacement of 50% Discount with…
On 2 March 2026, the Tax Ombudsman Ms Ruth Owen has released her report into the review of the ATO’s management of GIC remission. The Tax Ombudsman called for improvements in how the Australian Taxation Office (ATO) administers relief from General Interest Charges (GIC) on overdue tax debts. The review found that the current system…
On 16 October 2025, Tax Ombudsman Ruth Owen released a review into the Australian Taxation Office’s service delivery to registered tax agents, highlighting significant concerns about the deteriorating relationship between the ATO and the tax profession. Key Findings Declining Service Standards The review found increasing dissatisfaction amongst tax agents regarding the ATO’s phone service over…