Federal Budget Impact on Gold Coast Businesses

The recent federal budget announcement brings significant changes that will directly impact how Gold Coast businesses operate and plan for the future. Here's what local business owners need to know about the key reforms coming their way.

Federal Budget Impact on Gold Coast Businesses

Sweeping federal budget reforms target three key areas affecting local enterprises.

From July 2028, discretionary trusts will face a minimum 30% tax on trust income at the trustee level, affecting hundreds of thousands of business owners who operate through these structures. Major reforms to negative gearing and capital gains tax are also coming, with the removal of the 50% capital gains tax discount.

On the positive side, the $20,000 instant asset write-off for small business will be made permanent, simplifying tax obligations and improving cash flow for local enterprises.

These changes will have far-reaching implications for business planning and structure decisions. We encourage all MCC members to consult with their accountants and financial advisors to understand how these reforms may affect their specific circumstances and to explore any strategic adjustments that may be beneficial before the changes take effect.