Estate planning is one of the most important things you can do for the people you love. A well-drafted will gives you control over how your assets are distributed, who looks after your affairs, and how your wishes are honoured after you’re gone. But what happens when you decide to leave a family member, such...

Helping you choose the right support at the right time Deciding how to receive care as you or a loved one grows older is one of the most important conversations a family can have. For many Australians, the choice comes down to two options: home care, where support is brought to you at home, or...

If bankruptcy is on the horizon, one of the first questions people ask is what happens to their super. The answer turns on timing, the type of contribution, and how you draw on the fund. The general rule Money sitting in a regulated super fund is protected from your bankruptcy trustee. Creditors cannot touch it,...

If you’ve stopped working in your early 60s and are receiving JobSeeker Payment (JSP) while waiting to access your super or the Age Pension, there’s an important rule you need to understand. The conditions attached to JSP can directly conflict with the rules for releasing your superannuation, potentially leaving your retirement savings locked away longer...

Discretionary trusts have been a familiar feature of Australian business life for generations, partly due to their suitability for asset protection and retirement planning, as well as their ability to legitimately achieve lower overall tax rates through income splitting, where trustees of discretionary trusts allocate all or part of the trust income to associates who...

So, what do the Budget changes to the CGT discount mean to you? And what these changes will do is to allow any capital gain that accrues up to1 July 2027 to continue to be entitled to the 50% discount – but thereafter the assessable gain will be worked out under an inflation base indexation...

So, what do the Budget changes to negative gearing mean to you if you own a residential investment property? Well, the first thing to note is that the negative gearing changes are “grandfathered” they do not apply to properties that are already owned at the time of the Budget (12 May 2026) – and such...

Access our Wallace Partners June 2026 Newsletter below: Wallace Partners 2026 June Newsletter

The Federal Budget handed down on 12 May 2026 introduces some of the most significant tax reforms in decades. We will be carefully monitoring the reforms as it becomes legislation and will keep you updated with any recommendations. Capital Gains Tax (CGT): Major Overhaul What’s changing? The 50% CGT discount will be removed from 1...

If you’re setting up a self-managed super fund (SMSF), or already have one, one of the most important decisions you’ll make is who acts as trustee. The fund can either have individual trustees (the members themselves) or a corporate trustee (a company, with the members as its directors). Many SMSFs now use a corporate trustee...