Business Tax Changes 2026: What Every Australian Business Owner Needs To Know
- Future Accounting
- 16 hours ago
- 5 min read
Written by: Chris Mulcahy
What Should You Do Now to Prepare for Business Tax Changes 2026?
The Business Tax Changes 2026 introduced from 1 July represent one of the most significant packages of reforms Australian businesses have seen in recent years.
From payroll and superannuation to tax measures and compliance obligations, there is plenty for business owners to understand. More importantly, the recent Federal Budget has also announced a range of significant reforms expected over the next one to two years.
While some of those measures are still progressing through Parliament, they provide something incredibly valuable.
Time to plan.
Time to review your business structure.
Time to understand the opportunities available.
Time to make informed decisions before the new rules commence.
At 3P's Future Accounting, we believe the businesses that achieve the best outcomes are rarely the ones reacting after legislation changes. They're the ones preparing while they still have options.
The key business tax changes 2026 every business should understand
National minimum wage increase
The National Minimum Wage has increased to $26.44 per hour, with modern award wages increasing by 4.75% from the first full pay period on or after 1 July.
Businesses should ensure payroll systems have been updated and employee pay rates remain compliant.
Payday Super
One of the biggest operational changes is the introduction of Payday Super.
Superannuation contributions must now generally be paid at the same time as wages, with contributions expected to reach employees' super funds within seven business days.
This places greater importance on payroll processes, cash flow management and payroll software.
Small Business Super Clearing House closes
The ATO's Small Business Super Clearing House has now closed.
Businesses previously relying on this service should ensure they have alternative SuperStream-compliant payment arrangements in place.
$20,000 instant asset write-off made permanent
Eligible small businesses with turnover below $10 million can immediately deduct eligible business assets costing less than $20,000.
This provides greater certainty when planning equipment purchases and capital investment.
ASIC fee increases
ASIC has increased a range of fees, including company registrations, annual review fees and business name renewals.
While relatively modest, these increases should be factored into annual business costs.
Paid Parental Leave expanded
Government-funded Paid Parental Leave has increased to 26 weeks.
Employers should understand how these changes may affect workforce planning and employee leave arrangements.
Expanded AML/CTF obligations
Australia's anti-money laundering reforms continue to expand, with additional industries now captured by the legislation.
Businesses operating in affected industries should confirm whether new registration and compliance requirements apply.
The bigger opportunity is planning ahead
While the Business Tax Changes 2026 are now in effect, they are only the beginning.
The recent Federal Budget outlined several significant reforms expected to commence over the next one to two years. Although legislation is still progressing and details may evolve, businesses should not wait until the commencement date before considering their position.
For proactive business owners, the next 12 to 24 months represent an important planning window.
This is the opportunity to review your business structure, succession plans, asset ownership, tax strategy and long-term objectives before future changes take effect.
Federal Budget reforms to prepare for now
Capital gains tax reforms
Changes to the Small Business Capital Gains Tax concessions represent one of the most significant tax reforms affecting business owners.
The increase in the turnover threshold to $10 million will expand access to some concessions, but not all concessions apply equally. Recent changes have also created additional complexity for many larger family businesses.
Understanding how these reforms interact with your business structure today may create significant opportunities in the future.
Proposed trust taxation changes
The Government has announced proposed changes introducing a minimum tax regime for many discretionary trusts from 1 July 2028.
Importantly, a proposed restructuring period is expected to provide businesses with an opportunity to review existing structures before the new rules commence.
Rather than waiting until the legislation is finalised, now is the ideal time to understand how these proposals could affect your business.
Property and investment reforms
Proposed changes affecting capital gains tax and investment property taxation may also influence future investment decisions.
Although the legislation is still progressing, business owners and investors should understand how these proposals may affect their long-term wealth creation strategies.
What should you do now?
Every business is different, but there are several practical steps worth considering.
Review whether your current business structure remains appropriate.
Ensure your payroll systems comply with Payday Super requirements.
Review planned capital purchases to maximise available tax concessions.
Consider how proposed tax reforms may affect future business sales, succession or investment decisions.
Speak with your adviser before making major business or investment decisions.
Planning early generally creates more options than waiting until legislation takes effect.
Don't wait until the rules change
One of the biggest mistakes we see is businesses delaying important decisions until legislation has already commenced.
By then, opportunities may have been lost.
The next 12 to 24 months provide many business owners with a valuable planning window to review their business structures, tax strategies, succession plans and long-term wealth objectives.
Good planning isn't about predicting the future.
It's about being prepared for it.
How 3P's Future Accounting can help
Tax legislation will continue to evolve, but businesses that regularly review their position are far better placed to respond than those who wait until the last minute.
At 3P's Future Accounting, our role is to help business owners understand what is changing, identify opportunities early and develop practical strategies that Preserve what you've built, Protect your wealth and Prosper into the future.
Whether you're reviewing your business structure, considering succession planning, evaluating a future sale, or simply wanting confidence that you're prepared for the changes ahead, we're here to help.
Together we'll review your business, identify opportunities, assess potential risks and develop a practical plan that positions your business for the future.
Because the best opportunities aren't created after the rules change.
They're created by planning before they do.
Disclaimer
This article does not constitute financial advice and is for general information only. It does not take into account any individual’s personal objectives, situation or needs, and is not intended as professional advice. Any similarity to an individual’s personal circumstances and the examples provided in this article is purely coincidental. Any person acting upon such information without receiving specific advice, does so entirely at their own risk.
Authorisation under an Australian Financial Services Licence (AFSL) is not required in the provision of this article and the author plus Future Accounting Group Pty Ltd is not acting in its capacity as an Australian Financial Services Licence holder
Liability limited by a scheme approved under professional standards legislation.
