Tax Insights

The increase highlights the growing importance of understanding how director penalty notices work, especially for directors of companies with unpaid PAYG withholding, GST or superannuation guarantee charge liabilities.

The Treasury Laws Amendment (Strengthening Accountability for Tax Adviser Misconduct and Other Measures) Act 2026 has become law, with key amendments to the Tax Agent Services Act taking effect from 1 October 2026.

The small business component was estimated at $27.2 billion, representing close to half of the total net gap.

The 2026–27 Budget forecasts tobacco excise receipts declining from $4.13 billion in 2025–26 to $2.14 billion by 2029–30, representing a fall of almost half over four years.

The Final Budget Outcome for 2025–26 shows the deficit was $6 billion smaller than the $28.3 billion forecast in the 2026–27 Budget. Lower-than-expected payments also contributed to the improvement.

The Passenger Movement Charge Amendment Bill 2026 was introduced in the House of Representatives on 12 August 2026. It has not yet become law and remains before the House. The proposed increase therefore cannot take effect unless the legislation completes the parliamentary process.

The proposal begins with the two lower income-tax thresholds from 2028–29 before extending indexation across all four thresholds from 2031–32. The Coalition has stated that the initial stage would cost about $22.5 billion over its first four years and that offsetting measures would be …