The 2026 Budget doesn’t just change tax rates. It lands seven structural changes across super, property, trusts, and business. Each has a deadline and several interact with each other in ways that matter as much as the changes themselves.
Here's what you may need to act on, and by when.
| What's changing | When it starts | Who it affects |
|---|---|---|
| Division 296: 30% tax on super earnings above $3m (40% above $10m) | 1 July 2026 | SMSF members, high-balance super |
| Instant asset write-off $20,000 made permanent | 1 July 2026 | Small businesses |
| Loss carry-back for companies up to $1bn turnover | 1 July 2026 | Companies with carried-forward losses |
| CGT discount replaced with indexation + 30% minimum tax | 1 July 2027 | Investors, property owners, trusts |
| Negative gearing restricted on newly built residential properties | 1 July 2027 | Property investors |
| Trust rollover window opens | 1 July 2027 | Trusts restructuring before deadline |
| Discretionary trust minimum 30% tax rate | 1 July 2028 | Family trusts, bucket companies |
These aren't incremental adjustments. They're structural shifts that will change how you hold assets, structure income, and plan for succession whether you run a family business, own investment property, or have a super balance above $3 million.
Most of these changes come with transition windows. How you use those windows, and in what order, will determine whether the 2026 Budget costs you or works in your favour.
If you have a specific question, jump straight to the FAQs.
Please note: some measures reflect proposals and may change as legislation moves through parliament.
Not every Budget announcement requires action. These seven do, and each one has a deadline, a decision point, or a structural implication worth understanding now.
The 50% CGT discount for individuals and trusts holding assets for more than 12 months is replaced from 1 July 2027 with cost base indexation plus a 30% minimum tax on net capital gains.
For assets you already own at 1 July 2027, the gain is split: the portion accrued before that date still attracts the 50% discount, while the portion accruing after that date is taxed under the new model.
Negative gearing deductions are grandfathered for existing residential investment properties purchased before 7:30 pm AEST on 12 May 2026. Properties purchased after that date, unless they are new builds, will not be eligible for negative gearing deductions from 1 July 2027. The interaction with the CGT changes significantly alters the investment property equation.
If your total superannuation balance exceeds $3 million, you'll pay an additional 15% tax on earnings attributable to the balance above that threshold, bringing the effective rate to 30%. For balances above $10 million, an additional 10% applies, bringing the effective rate to 40%.
The $3 million threshold is indexed to CPI in increments of $150,000, so it will adjust over time, though only in fixed steps.
If you're approaching or already above $3 million, the question of whether to keep accumulating inside super or redirect contributions elsewhere is now urgent. This one unlike the others is law, so it's best to act quickly.
If you hold assets in a discretionary trust, a minimum 30% tax rate will apply to distributions from 1 July 2028. The measure targets trusts distributing income to low-tax beneficiaries, including adult children on lower marginal rates and bucket companies.
Your planning window to restructure is between now and 30 June 2030. A trust rollover window opens from 1 July 2027 to help with the transition.
The R&D Tax Incentive is being redesigned with new eligibility criteria, documentation requirements, and a tighter definition of eligible activities. If you're currently claiming, review your R&D program now before the new rules take effect.
The $20,000 instant asset write-off is now permanent for businesses with aggregated annual turnover below $10 million. You can plan capital purchases with certainty, and the write-off applies per asset so you can claim multiple assets in the same year.
If your company has aggregated turnover up to $1 billion, you can now carry back losses to offset tax paid in the previous two years. Treasury estimates this will benefit up to 85,000 companies. If you're running a new start-up, you'll gain access to loss refundability from 2028–29 for losses incurred in your first two years.
If you have a specific question, jump straight to the FAQs.
Each of these changes is significant on its own. Together, they create interactions that make piecemeal advice genuinely risky.
If you hold assets in a discretionary trust, have an SMSF approaching $3 million, own investment property, and are planning to sell your business in the next five years, every major 2026 Budget change affects you – at the same time.
The CGT window affects your business sale timing
The trust minimum tax affects how you structure distributions in the meantime
Division 296 affects whether you keep contributing to super or redirect funds elsewhere
Getting these decisions right requires someone who can see across your tax position, your super, your trust, and your property holistically. A tax advisor who can't see your super position will miss the Division 296 interaction. A financial planner who can't see your trust structure will miss the minimum tax exposure. An accountant who can't see your investment property will give you incomplete CGT advice.
That's the case for the type of integrated advice we offer at Findex and it's more important now than it's ever been.
1 July 2026: Division 296 (30% super tax on balances above $3m) takes effect. Permanent $20,000 instant asset write-off commences. Loss carry-back for companies commences.
30 June 2027: Last date to sell CGT assets under the 50% discount.
1 July 2027: New CGT model (indexation + 30% minimum tax) takes effect. Negative gearing restricted on properties purchased after 7:30pm AEST 12 May 2026 (unless a new build). Trust restructure rollover window opens.
1 July 2028: Minimum 30% tax on discretionary trust distributions takes effect. R&D Tax Incentive redesign takes effect.
2028–29: Loss refundability for new start-up companies commences.
30 June 2030: Trust restructure rollover window closes.
The most urgent items are structural reviews that need to be completed before the first wave of changes takes effect.
Super balance review. If your total superannuation balance is approaching or above $3 million, model the Division 296 impact now. It's not just about how much extra tax you'll pay, it's whether the after-tax return inside super still outperforms your alternatives.
SMSF trustee review. Review your SMSF's investment strategy, contribution plans, and pension phase arrangements in light of Division 296. SMSFs remain structurally advantaged in several respects, but your position has changed if you're above the threshold.
Company tax position. If your company has carried-forward losses, assess the loss carry-back opportunity from 1 July 2026. With turnover up to $1 billion, you can offset losses against tax paid in the prior two years.
Small business capital planning. With the $20,000 instant asset write-off now permanent, review your capital expenditure pipeline for 2026–27 and plan purchases accordingly.
The 50% CGT discount applies to gains accrued up to 1 July 2027. Gains accruing after that date will be taxed under the new indexation model, meaning the longer you hold an asset beyond that point, the more the new rules shape your overall tax position.
If you hold appreciated assets, how you manage the timing around that date may be one of the most significant financial decisions you make in the next decade. For gains accrued before 1 July 2027, the 50% discount is preserved. For gains accruing after that date, the outcome will depend on how much the asset continues to grow and for how long.
Asset-by-asset CGT review. Work through your portfolio asset by asset: what's your current unrealised gain, what would the tax be under the 50% discount model, and what would it be under the new indexation model? The answer will differ depending on when you purchased the asset and how much it's appreciated.
Property decisions. If you own investment property, the CGT changes and the negative gearing restriction create a compound decision. Established residential investment properties purchased before 7:30pm AEST on 12 May 2026 retain negative gearing treatment; properties purchased after that date don't (unless they are new builds).
Trust distribution review. If your trust holds appreciated assets you were planning to sell in the medium term, consider whether accelerating that sale makes sense. Assets sold before 1 July 2027 can still pass the 50% CGT discount through to your beneficiaries.
The trust rollover window opens on 1 July 2027 and closes on 30 June 2030. Within that window, you can roll eligible trust assets into alternative structures without triggering CGT. It's deliberately time-limited so once it closes, it closes.
Trust structure review. Assess whether your current trust structure will be materially affected by the 30% minimum tax. The impact depends on the marginal rates of your beneficiaries and how distributions are currently made.
Rollover eligibility assessment. Confirm whether your trust assets are eligible for the rollover concession. Eligibility criteria apply and not all asset types will qualify.
Bucket company review. If your trust currently distributes to a bucket company, the interaction between the new trust minimum tax and the company tax rate creates a potential double-tax trap. Model this before the window closes.
If you have a specific question, jump straight to the FAQs.
If you run an agribusiness, you're facing a particular combination of pressures. The CGT changes affect your farm asset sales and succession planning. The trust minimum tax affects the family trust structures most agribusinesses rely on. A farming family planning to transfer 300 hectares to the next generation in 2029 is now looking at a completely different succession structure.
If you're in manufacturing, the permanent instant asset write-off and the loss carry-back measures work in your favour. If you also run an R&D program, review your eligibility and documentation practices before the 2028 redesign takes effect so treat the period between now and 30 June 2028 as an audit, not a wait-and-see.
Your SMSF remains structurally advantaged: the retirement phase is tax-free, the accumulation rate of 15% sits well below the 30% trust minimum, and Division 296 only affects you if your balance exceeds $3 million. The structure itself remains competitive but if you're above the threshold, your position has changed and it's worth reviewing now.
The trust minimum tax is the most complex planning challenge in this budget. If you hold assets in a discretionary trust, run a bucket company, and have an SMSF — all three changes touch your structure simultaneously. There's no single right answer. The right approach depends on your beneficiary profile, asset base, and succession intentions.
If you've read the sections above, the FAQ below is a quick-reference summary. Use it to check a specific question or share with someone who needs a fast answer.
No new death tax was introduced. Superannuation death benefits paid to non-dependants, such as adult children, continue to attract tax of up to 17% (15% tax plus the Medicare levy). What has changed is the calculus around how much it makes sense to hold inside super. If you have a large super balance, reviewing your beneficiary nominations and estate planning structures is now more important than before.
Yes, partially. If you sell before 1 July 2027, the full 50% discount applies as usual. If you sell after that date, the gain is split: the portion accrued up to 1 July 2027 still attracts the 50% discount, while any gain accruing after that date is taxed under the new rules. The longer you hold past 1 July 2027, the more of your gain falls under the new model.
It depends on your situation. The 30% minimum tax rate applies to distributions to beneficiaries whose marginal rate is below 30%. If your trust currently benefits from distributing to low-tax beneficiaries such as adult children on lower incomes or bucket companies, its tax effectiveness will reduce materially. The trust rollover window gives you a mechanism to restructure without triggering CGT, but eligibility criteria apply.
Review this arrangement now. Distributions from your discretionary trust to a bucket company may be subject to the trust minimum tax and then taxed again when dividends are paid to shareholders. Whether the trap applies to your structure depends on how income flows through your entities. Have this conversation with your advisor before the trust rollover window opens in July 2027.
Findex advisors work across accounting, tax, financial planning, and SMSF from a single integrated platform so your decisions get made with the full picture in view, not in isolation.
If you have complex tax affairs, a family trust, an SMSF, or investment property, the right starting point is a conversation that looks across all of those dimensions at once.
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