From www.accountantsdaily.com.au: The Tax Institute warns that the upcoming federal election will further complicate tax planning for clients due to several announced but unenacted tax measures, particularly concerning the Division 296 tax and the instant asset write-off.

Chief executive Scott Treatt notes that entering caretaker mode can exacerbate uncertainty surrounding these key issues, potentially delaying legislative progress.

The unclear status of proposed tax changes hinders tax professionals’ ability to advise clients effectively, leading to frustration among those seeking guidance.