12/05/2026
The Federal Government’s May 2026/27 Budget includes a number of proposed changes that could affect individuals, families, investors and business owners.
Some of the key announcements include:
• A proposed $250 Working Australians Tax Offset from the 2027–28 income year
• A proposed $1,000 instant tax deduction for eligible workers from 2026–27
• Changes to negative gearing and capital gains tax from 1 July 2027
• A proposed 30% minimum tax on discretionary trusts from 1 July 2028
• The permanent extension of the $20,000 instant asset write-off for eligible small businesses
• Changes to electric vehicle FBT concessions
• Increased Medicare levy low-income thresholds
• Further investment in Medicare, aged care, NDIS, housing, cyber security, energy and infrastructure
As always, the detail matters. Some measures are proposed to apply immediately, while others are scheduled for future income years.
We’ve prepared a summary of the key Budget highlights to help you understand what may be relevant to you, your family or your business.
Read the full summary here: https://leenanetempleton.com.au/federal-budget-news-update-2026-27/
We have pleasure in enclosing a summary of the highlights from the Federal Government’s May 2026/27 Budget. Electric Car Discount – more sustainable fringe benefits tax treatment of electric cars The Government is adjusting settings of the electric car discount to maintain incentives for the shi...
