Accord Insights

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Highlights

Treasury Backs Off on Discretionary Trusts, But There Is a Catch

Some welcome news arrived from Treasury this month, with the Government softening its proposed treatment of discretionary family trusts. However, there are still some important catches, and we are not recommending that clients make any changes just yet. What was originally proposed? As part of the 2026–27 Federal Budget, the Government announced that from 1 July 2028, trustees would generally be subject to a minimum tax rate of 30% on taxable income of discretionary trusts. T

Tax

Josh Tilley

Sep 29

Small Business CGT Concession Expanded – $2 Million Turnover Threshold Increasing to $10 Million

There is some very welcome news for Australian business owners, with the turnover threshold for one of the key Small Business Capital Gains Tax (CGT) concessions increasing from $2 million to $10 million from 1 July 2027. For many growing businesses that have previously been too large to access this concession under the turnover test, this is a significant change. What is changing? Australia currently has four Small Business CGT concessions that can substantially reduce, defe

SME's

David Tilley

Sep 29

EV Tax Break Is Changing – What You Need to Know

The generous Fringe Benefits Tax (FBT) exemption for electric vehicles is set to change, with the Government releasing draft legislation that will progressively wind back the concession. For business owners and employees considering an electric vehicle, the timing and value of the vehicle will become increasingly important. What is the current concession? Under the current rules, an eligible electric vehicle can generally be provided to an employee without paying FBT, provide

Tax

Josh Tilley

Sep 29

Busy but not more profitable? Here is why

For many business owners, rising sales feels like proof that the business is moving in the right direction. More jobs, more customers and more turnover usually sound like good news. But higher revenue does not always mean higher profit. We regularly see businesses working harder, turning over more, and still feeling pressure on cash flow. In many cases, the issue is not a lack of sales. It is margin leakage. Costs creep in, pricing falls behind, discounts become habitual, or

Tax

David Tilley

Mar 27

Attention Employers: Payday Super Begins 1 July 2026

The Government has passed legislation introducing Payday Super , a significant reform that will change how employers meet their superannuation guarantee (SG) obligations. From 1 July 2026 , employers must pay super within seven business days of each payday , instead of quarterly. The aim is to close the estimated $5 billion SG gap and ensure employees receive their entitlements on time. While well intentioned, the Government once again appears not to have considered the prac

SME's

Josh Tilley

Nov 26, 2025