The Federal Budget delivered on 25 March 2025 brought few surprises for Australian businesses. While there were no major new tax measures, the Budget did confirm some changes, defer others, and left many big questions unanswered. Key Deferrals Two previously announced measures have been pushed back: These delays mean businesses now have more time to…
The Federal Government handed down its 2025–26 Budget on 25 March 2025. Marketed as a “plan for a new generation of prosperity,” the Budget focuses on cost-of-living relief, housing, education, and tax integrity. Here are the key highlights for individuals, businesses, and the community. Tax Relief for Individuals Housing Measures Business and Investment Other Key…
The Australian Taxation Office (ATO) has announced its compliance priorities for small businesses in 2025, with a strong focus on income reporting, GST obligations, and the correct use of incentive measures. 1. Contractor Income Reporting The ATO continues to uncover cases where contractors — including sole traders, consultants, and subcontractors — are omitting or under-reporting…
When it comes to managing tax outcomes for beneficiaries of a discretionary trust, income streaming can be a powerful tool. By allocating different categories of income—such as franked dividends or capital gains—to specific beneficiaries, trustees can optimise tax efficiency. However, not all trust deeds provide the necessary powers to make this possible. Why Income Characterisation…
From 1 January 2025, major changes to Australia’s Foreign Resident Capital Gains Withholding (FRCGW) rules will significantly impact property transactions. All real estate sales are now subject to a 15% withholding tax, unless the vendor provides a clearance or variation certificate. What’s Changed? When first introduced in 2016, the FRCGW regime applied only to properties…