12/05/2026
Last night's Federal Budget wasn't a tweaks-and-thresholds budget.
It was the most significant overhaul of the Australian tax system in nearly 30 years, and it happened in a single evening.
Here's what changed:
→ The 50% CGT discount is being replaced with indexation from 1 July 2027
→ Negative gearing on established investment properties is being quarantined. For anything purchased after 7:30pm last night
→ A 30% minimum tax is being imposed on discretionary trust income from 1 July 2028
→ Payday super becomes mandatory from 1 July 2026
→ The $20,000 instant asset write-off is now permanent
Almost every one of our clients will be affected by at least one of these. Some will be affected by several, and the interactions between them matter as much as the individual changes.
We've written a full breakdown covering what changed, what it means in practice, and what to do depending on your situation.
The 2026-27 Federal Budget changes capital gains tax, negative gearing, trust distributions and superannuation. Here's what changed, what it means, and what to do now.
