From mccullough.com.au: The 2025/26 Federal Budget introduces a reduction in the personal income tax rate for the lower tax bracket and increases in Medicare levy thresholds, alongside cost of living relief measures.

Business taxpayers face a compliance crackdown with increased funding for the Tax Avoidance Taskforce and stronger powers for the Tax Practitioner Board.

The budget also enforces a ban on foreign residents purchasing existing homes while delaying proposed changes to the foreign resident CGT regime.