Tax Brief September 2026: Understanding What's Changing
As tax return season gets underway, individuals and businesses are navigating a period of legislative change, evolving reporting requirements, and continued ATO focus on compliance and record-keeping.
Our September 2026 Tax Briefings bring together key developments to be aware of and what they may mean for your tax position moving forward. From enacted capital gains tax and negative gearing reforms to trust reporting updates and practical tax time considerations, the briefings are designed to help you stay informed and prepared.
Key considerations are outlined below. For a complete overview, including detailed guidance, practical examples, and further updates, we invite you to download the September 2026 Tax Briefings.
Download the Briefing
You can access our full June 2026 tax briefing below, which covers business considerations in greater detail.
Key Considerations for Businesses
Capital Gains Tax and Small Business Concessions: Looking Ahead
Changes to the capital gains tax regime have now been enacted, including expanded access to certain concessions for small business entities from 1 July 2027. Businesses should understand how these changes may affect future planning decisions.
Trust Reporting and Administration: New Requirements
Trustees of closely held trusts should be aware of updated reporting requirements, while further proposed changes affecting discretionary trusts remain under consideration.
Instant Asset Write-Off: A Permanent Feature
Legislation has made the $20,000 instant asset write-off threshold a permanent measure for eligible small businesses using the simplified depreciation rules.
Key Considerations for Individuals
Capital Gains Tax Changes: Understanding the Reform
The Government's capital gains tax reforms have now been enacted and will affect how gains are calculated from 1 July 2027. Understanding the changes early may assist with future planning decisions.
Negative Gearing: New Rules Ahead
Changes to negative gearing have now passed Parliament, with new rules applying to certain residential properties acquired after 12 May 2026.
Tax Time: Preparing for Lodgement
With tax return season underway, the ATO continues to emphasise accurate reporting, complete record-keeping, and appropriate substantiation of claims.
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.
Financial advice is provided by 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 and Integral Tax and Accounting Pty Ltd. ABN 98 168 355 093. Any tax information in this article 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.
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