Family Trusts Just One of 7 ATO Targets This Year – What You Need to KnowThe Australian Taxation Office (ATO) has shifted firmly from pandemic-era leniency to a broad compliance crackdown, with family trusts just one of seven major focus areas for 2026. The ATO is now closely scrutinising strategies commonly used by higher-income Australians and small business owners to minimise tax.Key areas under review include:⚠️ Family trust elections (FTEs) and historic errors triggering family trust distribution tax⚠️ Income splitting via trusts, companies and partnerships (especially personal services income)⚠️ Holiday homes claiming deductions while being used mainly for private purposes⚠️ Everett assignments used by professional firm partners⚠️ Philanthropic structures providing indirect benefits to families or related entities⚠️ Unpaid present entitlements (UPEs) following the Bendel High Court case⚠️ Franking credits and bucket companies, including 45-day holding period breachesThe ATO has made it clear that intergenerational wealth transfers and trust-based succession planning are now high-risk areas. While limited amnesties and interest relief exist for those who self-correct, enforcement activity is expected to increase through 2026.
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Powerful article. Liberals renewing or playing politics?
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When this happens, it's usually because the owner only shared it with a small group of people, changed who can see it or it's been deleted.0 CommentsComment on Facebook
While conservative media and the coalition talk “clean coal” and nuclear energy in 40 years, my rooftop solar generated 1.5MWh in Jan before Australia Day. Over 400kWh went into a battery that was used along with solar to cover the almost 900kWh consumed by our house.We sent the remaining 600kWh back to the grid for someone else to use.The 19kWh taken from the grid is a rounding error produced when the ai running the inverter incorrectly assumed we would need it to run the house.Basically we are “Off Grid” and providing energy for others. Renewables work. Embrace them and save yourselves while you help save the planet.
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In 1996, English was well ensconced as the third most spoken language on earth well ahead of everybody else. As of this year, English is still third but is given a strong run for its money by both Hindi and Portuguese. Population and demographic growth in Brazil and India are shifting the balance of language use around the world.,
The world's top 10 spoken languages in 1996 versus 2025
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Language matters to everyone in the world because it shapes how people communicate, preserve culture, access opportunities, and understand one another. By co…0 CommentsComment on Facebook
Jim Chalmers MP listened to taxpayers and the industry ( was pushed by the PM). The Div296 Super tax will not be retroactive, will be indexed and only tax realised gains. We can quibble about amounts and rates, but the major failings of the policy have been addressed. Well done Anthony Albanese.
Reforms to support low-income workers and build a stronger super system | Treasury Ministers
ministers.treasury.gov.au
The Albanese Government is delivering more help to low‑income workers and reforming the superannuation system to make it stronger, fairer and more sustainable. We are boosting the low‑income super...0 CommentsComment on Facebook