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Our strategic update articles provide you with in-depth analysis of a range of technical issues which may impact your clients and the advice you provide.
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Rated #1 for Technical Support 14 years running by Wealth Insights¹ our FirstTech team brings award-winning expertise to every adviser conversation.
For more than 25 years, our team has offered expert guidance across a wide range of technical areas, from superannuation and contributions, to aged care and estate planning.
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Latest news
The ATO has issued a reminder that payment of super contributions on government funded Parental Leave Pay will commence to be paid this financial year.
The scheme commenced on 1 July 2025, with super contributions on government funded Paid Parental Leave paid the following financial year. Those that received government funded Paid Parental Leave in 2025-26 will have super contributions at the Super Guarantee rate (currently 12%) paid into their super this financial year.
The contributions will be taxed at 15% in the super fund and will count toward the individual’s concessional contribution cap in the year that the contribution is made.
Treasury has released a consultation paper titled Minimum tax on discretionary trusts.
The government announced a 30% minimum tax on discretionary trusts in 2026-27 Federal Budget and it is proposed to apply from 1 July 2028.
Treasury is seeking feedback on:
- expanded rollover relief to support restructuring
- how excess franking credits should be treated
- way to collect the minimum tax
Consultation closes 31 July 2026.
The ATO has published guidance on the operation of the new Division 296 tax imposed on earnings on balances over $3m from 1 July 2026.
The guidance includes information on how Div 296 tax is calculated and collected, how super earnings are calculated and Div 296 tax for defined benefit interests.
Latest articles
FAQs: Increasing property debt and interest deductibility explained
During the May Federal Budget, the Government announced that existing properties held as at 12 May 2026 will be exempt from the negative gearing changes commencing on 1 July 2027.
This has promoted increased adviser queries on whether clients can boost interest deductions by increasing property debt.
This article addresses the key frequently asked questions from advisers about the tax implications of borrowing additional amounts against an existing property.
Managing the transfer balance cap and death benefit income streams
Where a member dies and their spouse takes their death benefit in the form of a retirement phase income stream, there is a risk they could end up exceeding their transfer balance cap and will need to commute amounts from their income streams to resolve the excess.
In this case, advisers will need to take care to ensure they properly calculate any commutation required as the rules can be complex depending on the clients’ circumstances and the type of income streams they are receiving.
Federal Budget proposed tax changes FAQs
During the Federal Budget Briefing webinars on 13 May, FirstTech received many questions in relation to the proposed CGT, negative gearing and discretionary trust tax changes.
The following is a summary of the main questions FirstTech received during the Federal Budget webinars. The answers are based on both the Federal Budget papers as well as the newly introduced Bill.
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Norman Howe
Stratxa Advisory
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Tribel Advisory
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¹ Wealth Insights Platform Service Level Reports - CFS First Tech team was rated #1 by Wealth Insights for Technical Support every year since 2013.
Adviser use only. Information on this webpage is provided by Avanteos Investments Limited ABN 20 096 259 979, AFSL 245531 and Colonial First State Investments Limited ABN 98 002 348 352, AFSL 232468. It may include general advice but does not consider anyone’s individual objectives, financial situation, needs or tax circumstances. You should read the relevant Product Disclosure Statements (PDSs), Investor Directed Portfolio Service Guides (IDPS Guides) and Financial Services Guides (FSGs) before making any recommendations to a client. The PDSs, IDPS Guides and FSGs can be obtained from www.cfs.com.au or by calling us on 13 18 36. Past performance or awards are no indication of future performance.