BYFORD, WA – Byford Accountants has expanded its team and is guiding clients through a significant round of confirmed and proposed tax changes affecting individuals, businesses and trusts across Australia, according to the firm’s 2026 client newsletter released this week.
The Byford-based practice, on South Western Highway, has welcomed Ellie to the team as an accountant experienced in preparing financials and tax returns for trusts, companies and sole traders. Natasha has returned to her role as Practice Manager, overseeing day-to-day operations, and Ashley has moved into the newly created role of Tax Manager, focused on tracking changing tax laws and responding to client queries raised by the Australian Taxation Office.
“Customers are the backbone of small businesses,” the firm said in its newsletter. “It has been a challenging but resilient year for the Australian economy. The ATO is getting increasingly aggressive in its tax collection endeavours, which means our role of protecting our clients becomes even more critical.”
The Australian Bureau of Statistics reported the Consumer Price Index rose 4.6 per cent in the twelve months to March 2026, underscoring the economic pressure facing households and small businesses.
Confirmed changes now in effect
Byford Accountants is alerting clients to several changes that are now law. Division 296, which received Royal Assent on 13 March 2026, imposes an additional 15 per cent tax on superannuation earnings attributable to balances above $3 million, with a higher rate above $10 million, effective from 1 July 2026.
From 1 July 2026, the introduction of Payday Super requires employers to pay staff superannuation on the same day as wages, with the firm warning that non-compliance can trigger significant interest and penalties.
Accountants are also now captured under Anti-Money Laundering and Counter-Terrorism Financing laws from 1 July 2026, meaning firms including Byford Accountants will need to request additional identification and information from clients to remain compliant.
On personal income tax, the rate applying to the $18,201 to $45,000 bracket falls from 16 per cent to 15 per cent from 1 July 2026, under previously legislated cuts.
Proposed federal budget measures
The newsletter also outlines proposed measures from the Labor Government’s 2026-27 Federal Budget that are not yet law, including making the $20,000 instant asset write-off for small businesses permanent from 1 July 2026, and restricting negative gearing to new residential builds for investment properties purchased after 7:30pm AEST on 12 May 2026.
Other proposals include changes to the capital gains tax discount from 1 July 2027, introducing inflation-adjusted cost base indexation and a 30 per cent minimum tax rate on realised gains, and a minimum 30 per cent tax rate on discretionary trust distributions from 1 July 2028.
Byford Accountants has cautioned clients against making major financial decisions based on the proposed measures alone, noting they may be amended or abandoned during the legislative process, and is encouraging clients to seek advice before restructuring trusts or investments in response.
About Byford Accountants
Byford Accountants is a public accounting practice based in Byford, Western Australia, providing tax, business and superannuation advice to individuals, businesses and trusts.
Media ContactCompany Name: Byford AccountantsEmail: Send EmailPhone: +61 8 9525 4000Address:887 S Western Hwy City: ByfordState: WACountry: AustraliaWebsite: https://byfordaccountants.com.au
