With the start of the 2026–27 financial year, SMSF trustees should take a proactive approach to ensure funds remain compliant and well positioned. Included is a concise checklist of the key legislative changes, compliance deadlines and practical steps trustees should prioritise.

The Tax Ombudsman has reported a dramatic 127% increase in complaints about the ATO this financial year with nearly 3,000 complaints received in the first ten months. Debt collection, penalties, and tax debt interest charges have dominated the issues raised.

The ATO is sharpening its focus on how taxpayers generating income from personal services deal with that income for tax purposes. In a recent Spotlight bulletin, Small Business Assistant Commissioner Tony Poulakis highlighted the release of Practical Compliance Guideline PCG 2025/5.

One of the most significant changes to the Australian superannuation system in decades has now commenced. From 1 July 2026, Payday Super requires employers to ensure super contributions reach employee super funds within seven business days of each payday. For many businesses, this represents a major shift from a quarterly payment cycle to a more frequent, real-time obligation.

Since the Federal Treasurer handed down the 2026-27 Federal Budget on 12 May 2026 there has been a significant amount of commentary on some of the more controversial proposals, including the decision to replace the CGT discount with an indexation system and impose a 30% minimum tax rate on discretionary trusts.

For SMSF members and trustees, a few timely checks now can avoid headaches later and help preserve valuable tax and contribution opportunities.

The Government has announced a staged wind-back of the current Fringe Benefits Tax exemption for electric vehicles , following recommendations from the Statutory Review of the Electric Car Discount released in May 2026.

The Reserve Bank of Australia has confirmed that all surcharges on credit and debit card payments will be banned from 1 October 2026. This represents one of the most significant updates to Australia’s payments landscape in years and will have a direct impact on businesses and consumers.

The 2026–27 Federal Budget has received more attention than most budgets in recent years. With proposed changes to negative gearing, the CGT discount and the taxation of trusts, this is a budget that has the potential to materially impact on property investors, business owners and families using discretionary trusts.

Following the recent release of the December 2025 quarter average weekly ordinary times earnings, the annual concessional contribution cap will increase from $30,000 to $32,500 from 1 July 2026. The annual non-concessional contribution cap will also increase to $130,000.

As tax time approaches, so does the annual spike in scam calls pretending to be from the ATO. These calls are becoming increasingly convincing — and increasingly costly for those who get caught by them.

With global fuel supply chains still under strain from conflict in the Middle East, many Australian businesses are feeling the impact through higher operating costs, delayed deliveries and pressure on cash flow.