OC Grant Accountants and Advisory | Tax + Super | April 2026
This overview reflects the original newsletter. Tax and superannuation rules may have changed since publication.
Read our April update on Division 296, super contribution caps, granny flat arrangements, capital gains tax and the importance of accurate car logbooks.
Division 296 and large super balances
The April newsletter reports on the passage of Division 296 legislation and explains the revised approach to taxing earnings associated with large superannuation balances.
It discusses the move away from the original proposal to tax unrealised gains, the introduction of indexed thresholds and the distinction between an individual’s total super balance and the balance of a whole fund. The article also outlines reporting and payment arrangements.
Higher super contribution caps
A separate feature examines the contribution cap increases reported for 1 July 2026 and what they could mean for retirement planning. It covers both concessional and non-concessional contributions.
The newsletter includes a comparison table for the 2025–26 and 2026–27 years, with total super balance thresholds and bring-forward limits. It also explains why an existing bring-forward period does not simply reset when a higher annual cap takes effect.
Granny flats and capital gains tax
Building or using a granny flat can involve more than construction costs and family arrangements. This issue considers the tax implications of commercial rental use and how that may interact with the main residence exemption.
It also examines arrangements in which a parent contributes towards construction in exchange for a right to occupy. Written agreements, eligibility conditions and the nature of the arrangement are central to the discussion.
Selling assets under financial pressure
The April edition uses a tribunal case to illustrate the tax issues that can arise when assets are sold to support a struggling business. Financial pressure and the use of sale proceeds do not, by themselves, answer the question of how a capital gain is taxed.
The article highlights the value of considering the tax consequences before a sale and getting advice about any concessions or relief that may be relevant.
Car logbooks: getting the basics right
Recent tribunal decisions provide the starting point for a review of car logbook records. The newsletter looks at recording the purpose and distance of business journeys, keeping odometer readings and completing entries promptly.
It also discusses the representative logbook period and the importance of consistency with other records. The aim is to help readers understand what supports a claim, rather than reconstruct journeys long after they occurred.
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 April 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 its appropriateness for your circumstances and seek professional advice.
