From 1 April 2029, a permanent 25% discount on FBT will be available for all electric cars valued up to and including the fuel-efficient luxury car tax threshold, implemented through a 15% rate in the statutory formula. The following transitional arrangements will apply: All eligible electric cars will retain the FBT discount rate that was in place when the arrangement commenced. All electric cars valued up to and including $75,000 that are provided before 1 April 2029 will c

From 1 July 2027, losses from established residential properties will only be deductible against rental income or the capital gains from residential properties. Excess losses will be carried forward and are able to be offset against residential property income in future years. These changes will apply to established residential properties acquired from 7:30 PM (AEST) on 12 May 2026. Properties acquired prior to this time (including contracts entered into but not yet settled)

The Government will introduce a minimum 30% tax on discretionary trusts. From 1 July 2028 (i.e., from the 2029 income year), trustees will pay a minimum tax of 30% on the taxable income of discretionary trusts. Beneficiaries, other than corporate beneficiaries, will receive non-refundable credits for the tax payable by the trustee. Under the minimum tax, corporate beneficiaries will be assessed based on the trust income to which they are entitled, without being able to claim