Tax

The High Court of Australia has delivered a significant decision affecting foreign property owners, state revenue authorities, and advisers navigating cross-border tax issues.On 15 October 2025, the Court unanimously upheld the constitutional validity of the foreign owner land tax surcharges imposed in Queensland and Victoria, resolving long-running uncertainty regarding the interaction between state legislation and

The Australian Government has updated its plan to tax earnings on superannuation balances above AU$3 million. These changes aim to improve fairness, simplify compliance, and make the policy practical for funds and members. The revised framework introduces streamlined assessments of additional tax liabilities and new thresholds to better target high-balance accounts. Key Updates Under the

The Income Tax Assessment (1997 Act) Amendment (Term Subordinated Note) Regulations 2025 introduces important changes to ensure consistent tax treatment for bail-in bonds issued by both Australian and foreign-regulated banks. These regulations align Australia’s tax approach with global standards by allowing financial instruments subject to non-viability conditions—whether issued by local or foreign institutions—to be treated

A recent Administrative Review Tribunal (ARTA) decision has reaffirmed the long-standing principle that medical expenses are not tax-deductible under Australian tax law — even when they relate to health conditions that end a person’s employment. The case, Wannberg and Commissioner of Taxation (Taxation) [2025] ARTA 1561, offers a timely reminder for Sydney taxpayers and retirees