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The Treasury Laws Amendment (Tax Reform No. 1) Bill 2026 has been amended in the Senate, and then passed by the House of Representatives, to include the recent Greens measure to ban SMSFs from using limited recourse borrowing arrangements (LRBAs) to buy “residential property”.
On 18 November 2025, ATO guidance QC 105857 was updated after the ATO raised concerns with arrangements where newly incorporated beneficiary companies claim franking credits.
When the New York Knicks won the NBA Championship, within days of their victory they filed new trade mark applications for championship merchandise, specifically including jewellery, rings and trophies. This is a reminder to traders all over the world that trade mark protection must continually be reviewed and updated as milestones are achieved, and NBA championships are won!
The Federal Government recently published a Consultation Paper on unfair trading practices protections for small businesses. In the below article, we summarise the Consultation Paper’s discussion points and key proposals under the Competition and Consumer Amendment (Unfair Trading Practices) Bill 2026.
Following first round consultation, the Government has announced an increase in the turnover threshold for the small business 50% active asset CGT reduction from $2m to $10m and, following the release of a consultation paper, further concessions for start-ups and early-stage investors. It has also confirmed that all testamentary trusts will be exempt from the minimum tax, with detail to follow in consultation.
The bell has tolled on the ATO's long-running argument that UPE is a "loan" under Division 7A. In FCT v Bendel [2026] HCA 18, a 5-2 High Court majority held that where a trustee's resolution effects a "setting aside" onto a separate trust, no loan arises under s 109D(3). The decision turns on the precise language of the trust deed and the resolution - and it changes the Division 7A calculus for every discretionary trust with a corporate beneficiary. This article covers the key issues practitioners need to act on now.
The death of a family trust's test individual creates significant difficulties under the family trust election (FTE) rules Schedule 2F. This article examines the FTE rules in the context of succession.
Representatives of the firm attended the Law Firm Network Conference in Hangzhao, China from 20-24 May 202