Australia: Income Tax

Partners Scott Hay-Bartlem and Linda Tapiolas break down the 2026 federal Budget's proposed changes to discretionary trusts, examining new tax rates, beneficiary credits, and exemptions. As legislation continues to evolve, they explore the complexities of restructuring trust and company arrangements and explain why businesses should adopt a cautious approach to these significant reforms.

On 12 May 2026, Treasurer Jim Chalmers handed down what he described as “the most important and ambitious Budget in decades”. The backdrop was demanding: a global oil shock driven by conflict in the Middle East, headline inflation forecast to reach 5% by mid-2026, and sustained cost-of-living pressure on households and businesses.

On 12 May 2026, Treasurer Jim Chalmers handed down the Albanese Government's 2026-27 Federal Budget. Our colleagues in the HSF Kramer Tax Practice Group have already covered the broader tax implications in their article, Federal Budget 2026: Back to the future. But what does this Budget mean for the property market in Australia?

31 March 2026 signifies a key date for employers as the end of the 2026 Fringe Benefits Tax (FBT) year. FBT is an employer-paid tax which arises when the employer provides their employee with benefits...

The Full Federal Court's recent decision in Commissioner of Taxation v S.N.A Group Pty Ltd [2026] FCAFC 10...

Private drawings from a company can trigger serious and unexpected tax consequences if they are not structured and documented correctly.

In finding in favour of the taxpayer in the long running, embedded royalty dispute against the Commissioner of Taxation.

The High Court of Australia has delivered its eagerly awaited decision in Commissioner of Taxation v PepsiCo Inc [2025] HCA 30, dismissing the Australian Commissioner of Taxation's...

In an unlucky day for the Commissioner of Taxation (Commissioner), on 13 August 2025 the High Court of Australia (HCA) handed down its decision in Commissioner of Taxation v PepsiCo, Inc...