until Australia’s Federal Budget is announced
The Australian Federal Budget for 2026-27, Treasurer Jim Chalmers’ fifth, is scheduled for 12 May 2026.
Our William Buck experts will cut through the noise to equip you with what you need to know coming out of the Federal Budget.
The Australian Federal Budget for 2026-27, Treasurer Jim Chalmers’ fifth, is scheduled for 12 May 2026.
Our William Buck experts will cut through the noise to equip you with what you need to know coming out of the Federal Budget.
Federal Budget Tax Debrief | Wednesday 13 May 2026: 10am AEDT
Facilitated by Todd Want, our Head of Tax along with our panel of experts Charis Liew, Raffi Tenenbaum and Chief Economist Besa Deda as they will unpack the latest developments in tax after the Federal Budget, explore real-world implications and answer your questions.
What the 2026 Federal Budget means for your business
Sign up to receive our Federal Budget Analysis, delivered straight to your inbox the morning after, for a concise summary of key announcements impacting you and your business.
What the 2026 Federal Budget means for your business
Delivered straight to your inbox, sign up to receive William Buck’s Federal Budget Analysis the morning after for a concise summary of key announcements impacting you and your business.
Insights from our budget spokespeople
“
There has been speculation that the Federal Government is considering altering capital gains tax concessions from the current 50% to a lower percentage. If applied retrospectively, it would be particularly concerning for investors and could push family groups, especially property holders, towards company structures taxed at lower rates. With the Reserve Bank shifting toward rate hikes and fuel costs rising, pressured households expect cost-of-living relief in this budget. Delivering this remains a challenge for the government. We are monitoring whether any tax increases will fund such relief or be directed toward budget repair.”
Scott Montefiore
Partner, Wealth Advisory
“
The Strategic Examination of R&D (SERD), led by Tesla chair Robyn Denholm, has just released its final report, which features 20 recommendations to the Government to lift Australia’s R&D and innovation activities from its current levels, which are well below many of our OECD peers. This is a fantastic blueprint for the Federal Budget if the Government wants to lift Australia’s sluggish productivity growth. Some recommendations may be ruled out due to their impact on the Budget deficit, and the Government’s appetite to adopt the remainder remains to be seen.
Jack Qi
Partner, Tax Services
“
“We’d like to see changes to Medicare so that longer consultations with GPs are more affordable for patients and also compensate the GPs fairly for their skills and experience. Currently, GPs are not adequately compensated for these longer consultations, and we know from RACGP’s Health of the Nation report that female GPs spend more time with their patients compared to their male colleagues, so the funding shortfall has created a gender pay gap. We’d also like to see an increase in funding for the Specialist Training Program to support non-GP specialist training in regional and rural Australia.”
Jennifer Rees
Principal, Business Advisory
“
The budget presents a genuine opportunity to align tax policy with housing outcomes, but that alignment must reward investment in new supply, not simply reduce incentives across the board. Australia can’t build its way out of a housing crisis with the same red tape, skills gaps and tax settings that created it. This May, the budget must also back builders, not just buyers. The 2026-27 budget is a once-in-term opportunity for structural reform, and we’re watching closely.
Kyle Wathen
Partner, Business Advisory
“
Manufacturers are facing significant hurdles with rising costs and an ongoing struggle to find quality staff and equipment funding. While current grants predominantly focus on defence and the government’s seven core sectors, there’s an opportunity to expand funding access to support the broader industry. This budget is an ideal platform for the government to transform the sector through broader incentives and direct investment. Increasing the instant asset write-off threshold before 30 June 2026 and extending it beyond small businesses to support investment in automotive technology would be a significant step for the industry as a whole.”
John Spender
Partner, Business Advisory
“
We would like to see some simplification of the super system. There are currently a large number of thresholds and limits to navigate for contributions and pensions and further complications with the introduction of the new tax on large balances from 1 July 2026. At the very least no changes in superannuation legislation would boost confidence in the superannuation system.”
Tricia Kleinig
Partner, Superannuation
Insights from our budget spokespeople
“
There has been speculation that the Federal Government is considering altering capital gains tax concessions from the current 50% to a lower percentage. If applied retrospectively, it would be particularly concerning for investors and could push family groups, especially property holders, towards company structures taxed at lower rates. With the Reserve Bank shifting toward rate hikes and fuel costs rising, pressured households expect cost-of-living relief in this budget. Delivering this remains a challenge for the government. We are monitoring whether any tax increases will fund such relief or be directed toward budget repair.”
Scott Montefiore
Partner, Wealth Advisory
“
The Strategic Examination of R&D (SERD), led by Tesla chair Robyn Denholm, has just released its final report, which features 20 recommendations to the Government to lift Australia’s R&D and innovation activities from its current levels, which are well below many of our OECD peers. This is a fantastic blueprint for the Federal Budget if the Government wants to lift Australia’s sluggish productivity growth. Some recommendations may be ruled out due to their impact on the Budget deficit, and the Government’s appetite to adopt the remainder remains to be seen.
Jack Qi
Partner, Tax Services
“
“We’d like to see changes to Medicare so that longer consultations with GPs are more affordable for patients and also compensate the GPs fairly for their skills and experience. Currently, GPs are not adequately compensated for these longer consultations, and we know from RACGP’s Health of the Nation report that female GPs spend more time with their patients compared to their male colleagues, so the funding shortfall has created a gender pay gap. We’d also like to see an increase in funding for the Specialist Training Program to support non-GP specialist training in regional and rural Australia.”
Jennifer Rees
Principal, Business Advisory
“
The budget presents a genuine opportunity to align tax policy with housing outcomes, but that alignment must reward investment in new supply, not simply reduce incentives across the board. Australia can’t build its way out of a housing crisis with the same red tape, skills gaps and tax settings that created it. This May, the budget must also back builders, not just buyers. The 2026-27 budget is a once-in-term opportunity for structural reform, and we’re watching closely.
Kyle Wathen
Partner, Business Advisory
“
Manufacturers are facing significant hurdles with rising costs and an ongoing struggle to find quality staff and equipment funding. While current grants predominantly focus on defence and the government’s seven core sectors, there’s an opportunity to expand funding access to support the broader industry. This budget is an ideal platform for the government to transform the sector through broader incentives and direct investment. Increasing the instant asset write-off threshold before 30 June 2026 and extending it beyond small businesses to support investment in automotive technology would be a significant step for the industry as a whole.”
John Spender
Partner, Business Advisory
Access our 2025–26 Federal Budget expert analysis, including the key measures impacting Australian businesses, individuals and the broader economy.
Frequently asked questions
When will the 2026 Federal Budget be delivered?
Australia’s Federal Budget is scheduled to be announced by Treasurer Jim Chalmers on Tuesday, 12 May 2026.
What measures were announced in the 2025-26 Federal Budget?
Jim Chalmers’ 2025-26 Budget aimed to juggle the realities of a return to deficit with the need to deliver cost-of-living relief to Australians. Previously unannounced tax cuts, along with an extension of the energy bill rebates, formed the centrepiece of the cost-of-living relief measures. Learn more about what measures were announced last year here.
When will William Buck's analysis of the 2026 Federal Budget be available?
Our comprehensive Federal Budget Analysis will be delivered straight to your inbox the morning after the budget is handed down on 12 May 2026. This will include a concise summary of the key announcements and their practical implications for you and your business.
How will current property taxes shape the 2026 federal budget?
With housing supply a major focus ahead of May, the federal budget presents a once-in-a-term opportunity to back builders and reform national tax settings. To understand how the layering of new state taxes is adding complexity and compliance burdens for developers, read our Property tax and development reform a state by state analysis.
In the press
May 2026
Greatest opportunity in decades’ for wealthy investors
Who wins and loses in a switch to an inflation-adjusted CGT discount?
How your tax bill might change if the 50pc discount is nixed
April 2026
The ‘never sell’ investor: What capital gains change will mean for your tax bill
Labor urged to reform fringe benefits tax as William Buck’s head of tax Todd Want laments its compliance costs
The ‘never sell’ investor: What capital gains change will mean for your tax bill
‘We need something bold now’: Australian tax system currently not fit for purpose
Latest media releases
Budget arrives at a legacy-defining moment for the current government
