New Tax Rules: What Has Passed Into Law

The following measures have received Royal Assent and are now legally enacted. Please review how these may impact you.

Minimum Wage Increase (Active 1 July 2026):

The National Minimum Wage increased to $26.44 per hour, or $33.05 per hour for casual employees. Please ensure your payroll software is updated.

Source: Fair Work Commission, Annual Wage Review 2025-26 [2026] FWCFB 3500.

Payday Superannuation (Active 1 July 2026):

Employers are now required to pay employee superannuation at the same time as their salary and wages. The ATO's Small Business Superannuation Clearing House (SBSCH) has also permanently closed, meaning you must use a commercial SuperStream-compliant alternative.

Source: Treasury Laws Amendment (Payday Superannuation) Act 2025, which received Royal Assent on 6 November 2025. 

Negative Gearing Quarantining (Effective 12 May 2026):

For established residential dwellings acquired on or after Budget night (12 May 2026), negative gearing rental losses are now quarantined and can no longer be offset against other income. New builds are generally exempt.

Source: Treasury Laws Amendment (Tax Reform No. 1) Act 2026

Capital Gains Tax Overhaul (Effective 1 July 2027):

The 50% CGT discount will be completely abolished and replaced with cost base indexation for CGT events happening on or after 1 July 2027.

Source: Treasury Laws Amendment (Tax Reform No. 1) Act 2026.

Ban on SMSF Residential Borrowing (Effective 10 August 2026):

A ban on new Limited Recourse Borrowing Arrangements (LRBAs) for residential property within SMSFs commences on 10 August 2026. Contracts must be exchanged by 9 August 2026. Existing loans and new commercial property borrowings remain fully grandfathered.

Source: Treasury Laws Amendment (Tax Reform No. 1) Act 2026, which received Royal Assent on 26 June 2026.

Pending Budget Measures (Not Yet Law)

Permanent $20,000 Instant Asset Write-Off (Targeted for 1 July 2026):

The proposed permanent $20,000 instant asset write-off threshold for eligible small businesses remains before Parliament. We expect this to pass shortly and will update you once it is officially enacted.

Source: Treasury Laws Amendment (Tax Reform No. 2) Bill 2026, which is currently before the Senate.

30% Minimum Tax on Discretionary Trusts (Targeted for 1 July 2028):

The proposed 30% minimum tax on discretionary trusts remains before Parliament. No immediate structural changes are required, but we will monitor the legislation closely.

Source: Treasury Consultation Paper, released 8 July 2026.