Updates to Budget Measures and New Developments

This month we focus on several significant developments affecting employers, investors, business owners and SMSF trustees.

Although the Federal Budget was handed down in May, several key proposals have already changed. We review the latest developments, including the introduction of Payday Super from 1 July 2026 and what employers must do to prepare. We also examine increased ATO scrutiny of personal services income, rising complaints to the Tax Ombudsman, changes relating to tax debt interest and penalty remission, and a practical new financial year checklist for SMSF trustees.