After being frozen for five years, the Centrelink deeming rates recently rose on 20 September 2025. Deeming rates are used to work out income from financial assets, thereby providing administrative ease in the application of the income means test. The process assumes that certain financial assets earn a set rate of income, rather than considering what they really earn.

2025 proved again to be a year of resilient global economic growth and strong returns for risk
assets. However, it certainly didn’t feel that way in early April as we all grappled with what
President Trump’s Liberation Day meant for economies and markets.

This document provides a summary of the key measures announced in the 2026–27 Federal Budget; however, the impact of these changes will vary depending on your clients circumstances.

Superannuation is a government-supported retirement savings structure that allows Australians to accumulate wealth in a highly tax-effective environment throughout their working lives. While in the accumulation phase, contributions and investment earnings are generally taxed at concessional rates, allowing more money to remain invested and compound over time compared to investments held personally. Once an individual meets a condition of release, such as retirement or reaching age 65, their superannuation can be converted to pension phase,
where investment earnings are generally tax-free and pension payments can be received tax-free by those who have met a condition of release.

2025 proved again to be a year of resilient global economic growth and strong returns for risk
assets. However, it certainly didn’t feel that way in early April as we all grappled with what
President Trump’s Liberation Day meant for economies and markets.

High income earners will be familiar with the somewhat dreaded ‘Division 293 tax’. However, Division 293 tax does not only apply to those people who derive substantial income from employment or self-employment. The additional tax bill can crop up as a result of taxable income from other sources, including investment income, capital gains and other one-off events or payments (e.g. employment termination payments).