OC Grant Accountants and Advisory | Tax + Super | May 2026
This overview reflects the original newsletter. Tax and superannuation rules may have changed since publication.
Our May issue brings together pre-Budget commentary, tax debt support, CGT considerations and a practical tax and super checklist for 30 June 2026.
The pre-Budget discussion on property tax
The May newsletter opens with commentary written ahead of the Federal Budget on 12 May 2026. It explores the ideas then being discussed around negative gearing, the capital gains tax discount and the possible treatment of existing investments.
This is pre-Budget analysis, rather than a statement of the measures ultimately adopted. It provides context for the subsequent discussion in the June and July newsletters.
Fuel response payment plans
The issue summarises the temporary ATO fuel response payment plan announced for eligible businesses experiencing tax payment difficulties linked to increased fuel costs. It outlines the eligibility considerations, instalment structure and lodgment requirements reported at the time.
The application deadline stated in this newsletter was 30 June 2026, which has now passed. Readers seeking support with a current tax debt should contact OC Grant to discuss the options available for their circumstances.
Capital gains tax when an asset is lost or destroyed
Insurance or compensation following the loss or accidental destruction of an asset can create tax questions as well as practical recovery issues. The May feature explores the potential role of CGT rollover relief.
It discusses replacement assets, the use of compensation money, timing and circumstances in which only part of a payment is spent on replacement. The examples underline why relief needs to be assessed against the specific facts.
Options and the timing of an asset acquisition
Another article considers when an asset is acquired or disposed of for CGT purposes following the exercise of an option. The timing can matter when assessing a holding period or the availability of a discount.
The newsletter reviews the legal arguments and the ATO position discussed in the source article, making this a useful prompt to seek advice before entering into or exercising an option.
Personal deductible super contributions after 67
The May edition explains the work test and the one-off work test exemption in the context of claiming a deduction for a personal super contribution. It distinguishes contribution acceptance from eligibility to claim a deduction.
It also covers the notice of intent and the need for a fund acknowledgment, alongside the importance of keeping evidence to support the claim.
The 30 June 2026 tax and super checklist
The final three pages bring together year-end matters for businesses, individuals, trustees and retirees. Topics include bad debts, stock and assets, deductions, company loans, trust distributions, contribution caps and minimum pension payments.
These were planning prompts for the year ended 30 June 2026. Keep the checklist as a record of that year’s considerations, and ask us to tailor a current plan to your business and personal position.
Talk to OC Grant
If a topic in this issue relates to your business, property or retirement plans, contact OC Grant Accountants and Advisory on (07) 3522 2400 or email [email protected] to discuss your circumstances.
Adapted from the OC Grant May 2026 client newsletter. © Content in partnership with the Institute of Financial Professionals Australia.
General information only. This content has been prepared without taking into account your objectives, financial situation or needs. Before acting, consider whether it is appropriate for your circumstances and seek professional advice.
