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The Federal Budget contains some of the most significant tax changes for business owners in a generation. Whether you operate through a company, trust, or as a sole trader — and whether you are in growth mode, planning your exit, or somewhere in between — there are measures in this Budget that directly affect you. We have prepared this briefing specifically for business owners, because the implications of these changes are more complex than a general summary can capture. Some changes offer genuine opportunities — particularly for businesses that have struggled recently or are planning for growth. Others, particularly the CGT and trust changes, require careful structural thinking before they take effect.

The 2026–27 Federal Budget, delivered by Treasurer Jim Chalmers on the evening of 12 May 2026, is one of the most significant overhauls of the Australian tax system in nearly three decades.

One of the most significant measures in this Budget is the replacement of the 50% CGT discount with cost base indexation for capital gains arising on or after 1 July 2027, combined with a new 30% minimum tax on net capital gains. 

If you own investment properties — or have been thinking about buying one — last night's Budget directly affects you.