Epoch News

From 1 July 2026, the value of a Commonwealth penalty unit increased from $330 to $364. While this may sound like a minor administrative change, it directly affects many ATO penalties, increasing the cost of a range of compliance failures. A penalty unit is simply the...

The ATO has released its updated reasonable travel and overtime meal allowance rates for the 2026–27 income year in Taxation Determination TD 2026/4. The overtime meal allowance has increased to $40.00, while the reasonable amounts for domestic and overseas travel...

Discretionary trusts, often referred to as family trusts, have been a popular structure for Australian families and businesses for many decades. They are commonly used to operate family businesses, hold investments and assist with succession planning. Their...

If you're thinking about purchasing or leasing a vehicle for your business in the new financial year, it's worth understanding the updated car thresholds that apply from 1 July 2026. While these limits may seem technical, they can have a practical impact on the amount...

The sharing economy has created new opportunities for Australians to earn additional income. Whether it's driving for a ride-sharing service, renting out a holiday property, completing freelance work, hiring out equipment, or creating digital content, many people are...

The High Court has recently handed down an important decision that will affect many private business groups that use discretionary trusts and corporate beneficiaries. In Commissioner of Taxation v Bendel [2026] HCA 18 (10 June 2026), the Court rejected the ATO’s...

Since the Federal Treasurer handed down the 2026-27 Federal Budget on 12 May 2026, there has been significant commentary on some of the more controversial proposals, including the decision to replace the CGT discount with an indexation system and to impose a 30%...

One of the most significant changes to the Australian superannuation system in decades has now commenced. From 1 July 2026, Payday Super requires employers to ensure that super contributions reach employees’ super funds within 7 business days of each payday. For many...

The ATO is sharpening its focus on how taxpayers generating income from personal services deal with that income for tax purposes. In a recent Spotlight bulletin, Small Business Assistant Commissioner Tony Poulakis highlighted the release of Practical Compliance...

The 2026–27 Federal Budget, released on 12 May 2026, has received more attention than most budgets in recent years.  With proposed changes to negative gearing, the CGT discount, and the taxation of trusts, this budget has the potential to materially impact...