Tax Brief April 2026: What to Watch as Year‑End Approaches
Individuals and businesses are entering a critical period as the end of the financial year comes into view, with increased compliance focus, evolving ATO priorities, and significant changes on the horizon for employers and taxpayers alike.
Our April 2026 Tax Briefing brings together the key developments to be aware of now and explain what they may mean for how you plan, record, and meet your obligations in the lead‑up to 30 June.
Key considerations are outlined below. For a complete overview, including detailed guidance, practical examples, and additional updates, we invite you to download the April 2026 Tax Briefings for Individuals and Businesses.
For Business Owners
Payday Super: Time to Prepare
With Payday Super commencing from 1 July 2026, employers should begin preparing for more frequent superannuation payments, including reviewing payroll processes, clearing house arrangements, and cash flow impacts.
Record‑Keeping and PAYG Instalments: Now Is the Time to Review
The ATO continues to place strong emphasis on accurate, timely record‑keeping, including digital storage, PAYG instalments, and activity statement reporting. As business circumstances change throughout the year, PAYG instalments may no longer reflect expected tax outcomes.
FBT: Avoid Common Mistakes as the Year Closes
With the FBT year having ended on 31 March, businesses should ensure fringe benefits have been correctly identified, valued, and reported. Motor vehicles, employee perks, entertainment, and car parking remain common risk areas. Addressing these obligations early can help reduce compliance risks and avoid last‑minute issues.
For Individuals
Deductions and Record‑Keeping: Still Critical
While many deduction rules remain familiar, the ATO continues to closely scrutinise claims, particularly where record‑keeping is incomplete or inconsistent. Accurate documentation for work‑related expenses, car use, and investment activity remains essential as tax time approaches.
Superannuation: Thresholds, Balances and Reporting
Superannuation continues to evolve, with total super balance thresholds, reporting obligations, and additional taxes affecting those with larger balances. Understanding how these rules apply, and how they interact with contribution strategies and retirement planning, is increasingly important as the end of the financial year nears.
If you would like to discuss the implications for your financial position or year-end strategy, please reach out to your MGD team or start the conversation.
Any advice included in this article is general and has been prepared without taking into account your objectives, financial situation, or needs. As such, you should consider its appropriateness having regard to these factors before acting on it. Any tax information refers to current laws, is not based on your unique circumstances and should not be relied on as tax advice. Before you make any decision about whether to acquire a certain financial product, you should obtain and read the relevant product disclosure statement. MGD Wealth AFSL no. 222600; ABN 53 009 079 725.
