The forward tax agenda

In this section of our 2026–27 Federal Budget tax analysis, we outline the forward agenda for personal and business tax and superannuation measures yet to be enacted as at the date the 2026–27 Federal Budget was handed down on 12 May 2026.

Measures in progress

Measure	Status
Business and investment
Implement the OECD Crypto Asset Reporting Framework (CARF) for the automatic exchange of tax-relevant information on crypto assets, together with a parallel domestic crypto tax reporting regime.	Announced as part of the 2025–26 Mid-Year Economic and Fiscal Outlook. Both regimes are proposed to commence in 2027, with the first exchange of information with foreign tax authorities and domestic reporting to the ATO in 2028.

Exclude gambling and tobacco from the research and development (R&D) tax incentive for income years commencing on or after 1 July 2025.	Announced in the 2024-25 Mid YearEconomic and Fiscal Outlook. Currently before Parliament in Treasury Laws Amendment (Delivering an Efficient and Trusted Tax System) Bill 2026.

Clarify access to managed investment trust (MIT) concessions for widely-held investors with effect for fund payments from 13 March 2025.	Announced on 13 March 2025 following the release of Taxpayer Alert TA 2025/1. Legislation has not yet been introduced to give effect to this measure.

Extend the existing clean building MIT withholding tax concession (currently 10%) on certain fund payments so as to apply to data centres and warehouses that meet energy efficiency standards.	Announced in the 2023–24 Federal Budget. The Government deferred the start date of this measure in the 2025-26 Federal Budget to the first 1 January, 1 April, 1 July or 1 October after the amending Act receives Royal Assent. Legislation has not yet been introduced to give effect to this measure.

Changes to fringe benefits tax (FBT) concessions for electric vehicles (EVs) from 1 April 2027.	On 5 May 2026, the Government announced it will phase down the current FBT exemption from 1 April 2027, narrowing to a 25% discount for eligible EVs below the luxury car tax threshold from 2029. Refer to our Tax Alert for further details.

Community benefit principles for Critical Minerals and Hydrogen Production Tax Incentives, broadly available from 1 July 2027.	Future Made in Australia (Production Tax Credits and Other Measures) Act 2025 is now law. These incentives are broadly available for eligible companies that have complied with the Community Benefit Principles to be applied in the delivery of Future Made in Australia support. Public consultation on the proposed Community Benefit Principles, which include annual compliance with tax compliance and transparency requirements, took place between December 2025 and February 2026.

International tax
Apply new penalty to large businesses (with more than $1 billion in annual global turnover) undervaluing or mischaracterising royalties, dividends or interest with effect from 1 July 2026.	Penalties relating to royalties announced in the 2024-25 Federal Budget, and penalties relating to dividends and interest announced in the 2024–25 Mid YearEconomic and Fiscal Outlook. Legislation has not yet been introduced to give effect to this measure.

Strengthen the foreign resident capital gains tax (CGT) regime, proposed to apply from the first 1 January, 1 April, 1 July or 1 October after assent of the enabling legislation. This package of reforms includes a temporary 50% CGT discount for foreign residents selling Australian renewable energy assets from the commencement of the legislation until 30 June 2030.	Exposure draft legislation released on 10 April 2026 for consultation. Refer to our Tax Alert which summarised the proposal as set out in the exposure draft law.

Expand Australia’s tax treaty network.	New tax treaties have been signed with Portugal (2023), Slovenia (2024) and most recently Croatia and Ukraine (2025). Other treaty negotiations (e.g. Brazil, New Zealand, South Korea, Sweden and Canada) are progressing.
Expand Australia’s tax treaty network.
Personal tax and superannuation
Introduce a $1,000 instant tax deduction for certain work-related expenses for individual taxpayers earning labour income, applicable from the 2026–27 income year.	Announced by the Government during the 2025 Federal election campaign. Exposure draft legislation released on 20 April 2026 for consultation.

Remove $2 minimum threshold for tax deductible gifts with effect from 1 July 2024.	Announced in the 2024–25 Mid YearEconomic and Fiscal Outlook. Currently before Parliament in Treasury Laws Amendment (Delivering an Efficient and Trusted Tax System) Bill 2026.

Other measures
Expand the application of the general anti-avoidance rules in Part IVA for income years commencing on or after the day the amending legislation receives Royal Assent.	First announced in the 2023–24 Federal Budget. Legislation has not yet been introduced to give effect to this measure.

Amend tax scheme penalties to ensure they apply appropriately to taxpayers in a loss position with effect from 1 July 2026.	Announced in the 2024–25 Mid YearEconomic and Fiscal Outlook. Legislation has not yet been introduced to give effect to this measure.

“Modernising Tax Administration Systems” by streamlining how trustees of closely held trusts report beneficiary TFNs to the Commissioner of Taxation.	Announced in the 2024–25 Mid YearEconomic and Fiscal Outlook. Currently before Parliament in Treasury Laws Amendment (Delivering an Efficient and Trusted Tax System) Bill 2026.