In this edition of It Depends, private client partner Clinton Jackson outlines what we know so far of the 2026 federal Budget, including where we are with capital gains tax, negative gearing and discretionary trusts.
The impact on you will depend on the final rules, which are still being developed. For now, it’s best to stay informed but avoid making any hasty decisions
We’ll be releasing more videos and podcasts with detailed discussions on these changes. If you have any questions, please contact our team.
Video transcript
Welcome to this edition of It Depends where I discuss where we’re at with the federal Budget changes.
What is the deal with the 2026 federal Budget?
The federal government handed down the federal Budget on the 12th of May. Now, this federal Budget is a big one for the area that we work in and the advisers that we assist and those of our clients as well.
The federal Budget announced a number of key changes, including to capital gains tax, negative gearing and the taxation of discretionary trusts.
Will I be affected by these changes?
This is the it depends. Now we’re getting so many questions on this, but, unfortunately, at the moment, we don’t know what the final rules will look like. So, it is very difficult to provide you with meaningful advice about how the changes will affect you.
At the moment, when we’re talking to clients about this issue, very much the status quo should be maintained until we know what the changes are. Yes, be prepared, but don’t act too quickly until we know what the final rules will say.
Now, to keep up to date, we have a number of other It Depends coming out that will break down each of the topics in more detail. And we also are releasing an up and coming podcast where Scott and Linda will talk about all the changes in a lot more detail and how they might impact you moving forward.
Where are the new rules at?
As I record this episode of It Depends on the 12th of June, we still have a long way to go to knowing what the final rules will be. However, we do have draft legislation for the capital gains tax and negative gearing changes, which have passed the House of Representatives. However, they are currently in the Senate, where they are at an inquiry, to be considered further.
For the rules relating to discretionary trusts, we still have quite some time to go because we don’t even have draft legislation yet. So, it really is, watch this space and see how it affects us as the rules are released in more detail.
If you have any questions regarding the rules and how they might impact you, please contact a member of our team and they’ll be happy to discuss them with you. Thanks for watching this episode of It Depends.
