Treasurer Jim Chalmers handed down the 2026–27 Federal Budget on Tuesday 12 May 2026.

This year’s Budget includes a significant package of proposed tax changes, particularly affecting capital gains tax, negative gearing, discretionary trusts, small business tax measures and income tax relief for workers.

While some of these measures are not expected to commence until 2027 or 2028, they may still be important for clients who own investment properties, hold assets with large unrealised capital gains, operate through family trusts, run a small business or have larger superannuation balances.

Importantly, Budget announcements should not be acted on in isolation. Some measures may still require legislation, further consultation or additional guidance before the final position is clear.

As always, the right strategy depends on your personal circumstances, your goals, your tax position and your broader financial plan.

Below is a summary of the key announcements and what they may mean for you.