Australia

On 26 October 2026, the ATO published a detailed article for superannuation professionals and fund members explaining the true cost of accessing superannuation early on compassionate grounds. While the Superannuation Industry (Supervision) Regulations 1994 allow early release for specific expenses (e.g., medical treatment, palliative care, mortgage foreclosure prevention), the ATO emphasizes the significant financial consequences:

On 23 October 2026, the Australian Taxation Office announced a dedicated information session scheduled for 24 November 2026 targeting multinational enterprise (MNE) groups within the scope of the OECD/G20 Pillar Two Global Anti-Base Erosion (GloBE) Rules. Australia has legislated the Pillar Two framework through the Tax Laws Amendment (Global Minimum Tax) Act 2026, which introduces

On 23 October 2026, the Australian Taxation Office published updated guidance within the Tax Governance Guide for Privately Owned Groups addressing the documentation and substantiation requirements for gifts or loans received from related overseas entities. This guidance responds to heightened ATO scrutiny under Division 7A of the Income Tax Assessment Act 1936 (ITAA 1936), the

On 22 October 2026, the Australian Taxation Office (ATO) published draft Practical Compliance Guideline PS LA 2026/D4 outlining the Commissioner’s approach to initiating assessments under the new Payday Super regime. This guidance forms part of the broader Superannuation Guarantee (SG) reform package requiring employers to pay superannuation contributions at the same time as salary and

On 22 October 2026, the Australian Taxation Office released its 2025–26 compassionate release of superannuation data and concurrently announced an intensified enforcement program targeting promoters of illegal early release of super schemes. The data reveals a continued upward trend in applications and amounts released on compassionate grounds, with the ATO flagging a correlation between spikes

On 22 October 2026, the Australian Taxation Office issued a targeted reminder to Self-Managed Superannuation Fund (SMSF) trustees and administrators on the critical importance of using the correct payment reference number (PRN) when remitting amounts in response to a Commissioner-issued release authority. Release authorities are issued under Division 131 of the Taxation Administration Act 1953

On 21 October 2026, the Australian Taxation Office published updated guidance on the categories of deductible expenses for complying Self-Managed Superannuation Funds (SMSFs) under Section 295-485 of the Income Tax Assessment Act 1997 (ITAA 1997). The guidance delineates between expenses incurred in gaining or producing assessable income (fully deductible), expenses of a capital or private

On 20 October 2026, the Australian Taxation Office updated its guidance on the mandatory contractor information fields required for completing the Taxable Payments Annual Report (TPAR) for the 2025–26 financial year, due for lodgment by 28 August 2026 (extended to 28 October 2026 for electronic lodgers). The TPAR regime, governed by Taxation Administration Act 1953

On 20 October 2026, the Australian Taxation Office refreshed its public guidance on the tax concessions available to trusts that have made a valid Family Trust Election (FTE) under Schedule 2F of the Income Tax Assessment Act 1936 (ITAA 1936). An FTE allows a trust to designate a’specified individual’ around whom a ‘family group’ is

On 20 October 2026, the Australian Taxation Office released an updated Unclaimed Superannuation Money (USM) Protocol for superannuation funds, reflecting legislative amendments under the Superannuation (Unclaimed Money and Lost Members) Act 1999 (SUMLMA) and the Superannuation Industry (Supervision) Act 1993 (SISA). The Protocol governs the identification, reporting, and payment of unclaimed superannuation money to the