Tax Brief June 2026: Final Steps as Year-End Nears
As the financial year draws to a close, businesses move into the final phase of compliance and year-end preparation. Now is the time to ensure processes, reporting, and key decisions are aligned.
Our June 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 June 2026 Business Tax Briefing.
Download the Briefing
You can access our full June 2026 tax briefing below, which covers business considerations in greater detail.
Key Considerations
Deductions and Record‑Keeping: Substantiating your position
The ATO continues to increase scrutiny on deductions where record‑keeping is incomplete or inconsistent. Businesses must ensure claims are properly supported and that documentation clearly reflects positions taken at year end.
Division 7A and Trust Considerations: Getting the Details Right
Arrangements involving companies, shareholders, and trusts require careful attention ahead of year end. Minimum yearly repayments on Division 7A loans, trust distribution resolutions, and the treatment of unpaid present entitlements should all be reviewed to reduce the risk of unintended tax consequences.
Fringe Benefits Tax: Rates and Thresholds for 2026–27
With the new FBT year underway, businesses should be aware of current thresholds and compliance requirements. Reviewing how benefits are provided and recorded can help ensure compliance throughout the year.
Payday Super: Preparing for 1 July 2026
Payday Super will require a shift toward more frequent and timely superannuation contributions. Businesses should review payroll processes, clearing arrangements, and internal controls to ensure contributions are paid and received within the required timeframes.
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 MGD Wealth Ltd, AFSL 222600, ABN 53 009 079 725. 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. Before you make any decision about whether to acquire a certain financial product, you should obtain and read the relevant product disclosure statement. Tax advice is provided by MGD Tax Pty Ltd. ABN 22 355 316 063. Any tax information refers to current laws, is not based on your unique circumstances and should not be relied on as tax advice. Liability limited by a Scheme approved under Professional Standards Legislation.
