The Federal Budget handed down on 12 May 2026 proposes some of the most significant tax reforms in recent decades. There is a clear focus on cost of living relief, alongside structural changes to the taxation of investment income, property, and business structures.
Payday Super & Contractors
What Small Businesses Need to Know
From 1 July 2026, superannuation must be paid much closer to when people are paid. This change, known as Payday Super, does not change who is entitled to super, but it does change when super must be paid.
For many small and family businesses, the main risk will be contractor payments, particularly where contractors are paid through accounts payable rather than payroll.
Estate planning – What your will doesn’t cover
When most people think about estate planning, they think about a will.
A will is important. It determines what happens to your assets when you pass away. But in over 30 years of advising pharmacy owners and their families, I’ve seen time and again that a will, on its own, is not enough.
Estate planning is not only about what happens after death. It is also about managing important changes that can happen while you are still living.
The new superannuation tax explained
What Division 296 means for your retirement savings
Changes to Australia’s superannuation tax rules are now law and, while they don’t affect everyone, they could have a meaningful impact on those with larger super balances. From 1 July 2026, the introduction of Division 296 means higher taxes will apply to earnings on superannuation balances above a set threshold. With plenty of commentary – and confusion – around what this change means, it’s important to understand who is affected, how the tax works, and whether it could influence your long-term retirement planning.
Proving you exist
A surprising challenge as we age
For many of us, proving who we are is something we rarely think about. We open bank accounts, pay bills and manage our finances without question. But as we age, particularly if health or mobility declines, something that once felt simple can become unexpectedly difficult.