TAG Tax

The Federal Treasurer, Dr Jim Chalmers, handed down the 2026–27 Federal Budget at 7:30pm (AEST) on 12 May 2026.

laiming to be a budget of resilience and reform, the Government advises it is helping Australians now and building Australia's future by:

• Responding to the global oil shock
• Taking pressure off Australians
• Making our economy more productive
• Delivering tax reform for workers, businesses and future generations; and
• Building a stronger and more sustainable budget

In particular, the Federal Budget Tax Brief highlights the Government’s proposed tax reform package which contains 3 key parts and claims it creates:

• a “better” tax system for workers, first home buyers and future generations
• a “better” tax system for businesses by encouraging investment and innovation, and
• a “simpler and more sustainable” tax system.

While the 2026-27 Federal Budget focused on broad tax and investment reforms, superannuation remained largely on the sidelines.

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