Australia: Corporate Tax

The 2026-27 Federal Budget introduced the most significant capital gains tax reforms in 25 years, replacing the 50% CGT discount with cost base indexation and a 30% minimum tax. Combined with new ASIC instruments on stamp duty and portfolio holdings disclosure, investment fund managers face coordinated disclosure, operational and structural challenges requiring substantial work over the next 12 to 18 months.

The Australian Government has released draft legislation proposing significant and retrospective changes to foreign resident capital gains tax rules, dramatically expanding what constitutes taxable Australian real property. These changes will apply to past transactions dating back to 2006, existing investments, and future deals, with only limited transitional relief for renewable energy assets until 2030.

The Australian Treasury has released exposure draft legislation that significantly expands capital gains tax obligations for non-residents, introducing new ATO notification requirements for transactions valued at $50M or more and fundamentally shifting due diligence responsibilities from vendors to purchasers. These changes will impact M&A deal processes, compliance timelines, and risk allocation between parties in cross-border transactions involving Australian assets.

An update on key developments in taxation law for accountants and participants in the tax advice industry.

Update on key developments in taxation law for accountants and participants in the tax advice industry.

It is a common misconception that only related entities may be grouped under the Payroll Tax Provisions.

DPNs - when directors are personally liable for a company's tax liability, when those amounts can be remitted & defences.

Fees paid to medical and other healthcare practitioners under independent contracts may now attract payroll tax.

Significant changes to Australia's corporate reporting rules aimed at increasing transparency of the tax practices of multinational companies are about to take effect.