7 April 2026 to 10 April 2026
Weekly Bulletin Contents
TAX
Tuesday 7 APRIL 2026
Fuel Duty Temporary Reduction Determination
The Excise Tariff (Fuel Duty Temporary Reduction) Determination 2026 has been made. It purpose is to assist in easing some of the impact of recent fuel price increases resulting from the conflict in the Middle East by providing a temporary further reduction in fuel excise and excise-equivalent customs duties beyond the 50% reduction that would otherwise apply for the period 1 April 2026 to 30 June 2026. The Treasurer has determined a lower percentage of 39.1% for the purposes of Excise Tariff Act 1921 Act. This has the effect of reducing the CPI indexed fuel rate to 39.1 per cent of rates applying as at 31 March 2026, which benefits users of fuel products, such as petrol and diesel, as it provides an overall 60.9% reduction in the fuel excise.
Updated Practice Statement re lodgement of late objection
The ATO has updated Law Administration Practice Statement PS LA 2003/7: How to treat a request to lodge a late objection to provide guidance where there is a delay in lodging an objection is due to “vulnerability” (para 11) and to align with amended Practice Statement style and formatting requirements.
APRA: Prudential standards longevity products
APRA has advised that it has finalised amendments to its prudential standards on the capital treatment of longevity products, including annuities, to strengthen the market for retirement income products. APRA say the reforms reflect its commitment to support innovation and reduce unnecessary regulatory constraints, while maintaining strong prudential safeguards. It also said that better aligning capital settings with the long-term nature of longevity liabilities enhances capital efficiency and creates a more proportionate and risk-sensitive framework.
Wednesday 8 april 2026
ATO: Fuel response payment plan
The ATO has advised that it is offering a tailored payment plan to eligible taxpayers affected by the increased cost of fuel. It said an eligible taxpayer you can access the ATO fuel response payment plan with the following conditions: no upfront payment; a 3-year payment plan period of 36 equal monthly instalments; and GIC remission. The ATO said that it will make a decision to remit any GIC that has accrued from the time of your application to the date of the third monthly instalment provided you pay all instalments agreed under the payment plan for 3 months and you bring any outstanding lodgments up to date in that period. The ATO fuel response payment plan is available by application until 30 June 2026.
ATO: Tips to get your base rate entity status correct
The ATO has advised that it is seeing many company tax returns lodged with the base rate entity status applied incorrectly. Accordingly, it has released key tips you should keep in mind: include all connected and affiliated entities; include capital gains in base rate entity passive income calculations; and include all base rate entity passive income types when determining eligibility; and re-assess base rate entity status every year.
ATO releases Combined Global Domestic Minimum Tax Return form
The ATO has advised that it has released the Combined Global and Domestic Minimum Tax Return form (together with information for the Australian global and domestic minimum tax relating to OECD Base Erosion and Profit Shifting). The form combines the foreign lodgment notification, the Australian IIR/UTRP Tax Return and the Australian DMT Tax Return.
Thursday 9 april 2026
Our submission on Division 296 draft regulations
On 7 April 2026, the Institute of Financial Professionals Australia (IFPA) lodged its submission to Treasury on the draft regulations supporting the Building a Stronger and Fairer Super System Act 2026. Key concerns raised in the submission include:
- Deceased estate rules may delay administration and create uncertainty. The proposed “single final assessment” model may leave a deceased member’s Division 296 position unresolved long after death, encouraging estates to remain open for longer and delaying final distributions.
- The rules may create an unfair mismatch between liability and benefit. In some cases, the estate may bear the Division 296 tax liability while the superannuation death benefit is paid directly to another person, creating inequitable outcomes and practical recovery issues.
- Actuarial certification requirements are unclear. The draft regulations do not clearly state whether an actuary is being asked to certify a dollar amount, a percentage or a methodology, creating uncertainty and increasing compliance costs.
- The small fund attribution formula may produce distorted outcomes where reserves exist. By relying on total superannuation balance values, the formula may unfairly attribute earnings associated with reserves to members who may have no entitlement to those amounts.
Further details regarding these issues and IFPA’s recommended amendments can be found in our submission which can be found here.
ATO busts Payday Super myths
Love it or loathe it, the 1 July 2026 start date for Payday Super is fast approaching, and the ATO has issued a media release in a “fact or fiction” format to assist employers to get ready for the impending change.
The main message is for businesses to be proactive and review their payroll systems and super processes well ahead of 1 July.
One of the myths the document tackles is that there is still plenty of time to get organised by the time the change comes around. That’s not really the case, as employers will need to plan for the cash flow impact, understand any needed changes to their payroll systems and transition away from Small Business Superannuation Clearing House (SBSCH) well before July 2026. They should also check that their software and payroll providers can support the necessary reporting.
The release also points out that you don’t have to wait until 1 July; many employers have already transitioned to payday processing. There are some useful links in the document for those wanting to find out more.
Friday 10 APRIL 2026
ATO: Fuel tax credit rates changed from 1 April 2026
The ATO has reminded business taxpayer that the fuel tax credit rates changed from 1 April 2026 following the temporary reduction in fuel excise by 60.9%. This is because fuel tax credit rates are based on the amount of excise duty payable on fuel. The ATO said as different fuel tax credit rates apply before and from 1 April 2026, you’ll need to use the rates for fuel acquired before 1 April 2026 when preparing your March monthly BAS. You’ll also need to use the new rates from 1 April 2026 when preparing your April monthly BAS. In addition, from 1 April to 30 June 2026, the heavy vehicle road user charge is set to zero. If you use fuel in heavy vehicles for travelling on public roads, you can claim fuel tax credits equal to the excise duty payable on the fuel.
Pt IVA applies to complex trust scheme – but amount tax benefit reduced
In a Pt IVA matter that was remitted by the Full Federal Court to the AAT for rehearing, the AAT has now confirmed that the taxpayer obtained tax benefits under the relevant scheme. However, it found that the amount of the taxable tax benefit was to be reduced by available carry forward tax losses which meant that the amount of trust income to be distributed to the taxpayer as a beneficiary of the relevant trust was reduced. The Full Federal Court in Collie v FCT (No 2) [2024] FCAFC 172 had found that the AAT failed to give proper regard to submissions and evidence under s 43(2B) of AAT Act and that it erred in construction of the “tax benefit” requirement in that it found that there may have been viable “non-tax benefit” reasons to structure the arrangement in the way it was structured. The matter involved a complex trust structure and transactions with no pattern of income distributions – in circumstances where the taxpayers were in the business of providing tax minimisation structures, but had not derived any income from that business. (Collie v FCT [2026] ARTA 328, 12 March 2026)
Indexation factor for HELP and related debts
The Government has gazetted the 2026 indexation factor for the accumulated Higher Education Loan Program (HELP), Australian Apprenticeship Support Loans (AASL) and for Financial Supplement debts. It is 2.8%. It will apply from 1 June 2026.
SUPER & FINANCIAL SERVICES
Government consults on super consumer protection and CSLR reform
Treasury has released three consultation papers proposing broad reforms to the superannuation and financial services sectors.
The reforms are largely a response to the collapses of the Shield and First Guardian Master Funds, which affected more than 11,000 consumers and over $1 billion in superannuation savings. The three consultation papers cover:
- Superannuation member protections – Options include strengthening trustee governance standards, creating a safer switching framework, restricting advice-fee deductions from superannuation accounts, and requiring platform trustees to use trustee capital to compensate members for certain investment failures on their platform.
- Lead generation and unsolicited selling – Proposals include greater accountability for lead generators, strengthened rules around unsolicited selling (including a potential ban on unlicensed communication to consumers about superannuation), restrictions on conflicted payment structures, and earlier regulatory intervention to disrupt harmful advertising.
- Compensation scheme of last resort (CSLR) sustainability – Options focus on improving the predictability and structure of CSLR funding arrangements, aligning the scheme as a genuine last-resort mechanism, and expanding recoveries.
Minister Mulino has also flagged a second CSLR and consumer protection roundtable with stakeholders in the coming weeks.
The consultation papers are available on the Treasury website.
Institute of Financial Professionals Australia (IFPA) comment
IFPA has previously made a submission on CSLR reform and will review these latest proposals. Members should pay particular attention to the proposals around CSLR levy design, SMSF eligibility and compensation methodology, as the outcomes will directly affect the cost of providing financial advice. IFPA welcomes member feedback on the consultation papers. Please email your thoughts and comments to [email protected].
ATO updates guidance on qualifying earnings
The ATO has published updated information on the shift from ordinary time earnings (OTE) to qualifying earnings (QE) for SG calculations. This is part of payday super reforms effective 1 July 2026.
Under the change, super will be calculated at 12% of QE which is a slightly broader measure than OTE. For many employers the practical impact will be limited, but payroll software configurations and pay code mapping may need reviewing ahead of the transition.
Employers will also be required to report year-to-date QE and super liability through single touch payroll (STP) each payday.
Our submission on Division 296 draft regulations
On 7 April 2026, the Institute of Financial Professionals Australia (IFPA) lodged its submission to Treasury on the draft regulations supporting the Building a Stronger and Fairer Super System Act 2026. Key concerns raised in the submission include:
- Deceased estate rules may delay administration and create uncertainty. The proposed “single final assessment” model may leave a deceased member’s Division 296 position unresolved long after death, encouraging estates to remain open for longer and delaying final distributions.
- The rules may create an unfair mismatch between liability and benefit. In some cases, the estate may bear the Division 296 tax liability while the superannuation death benefit is paid directly to another person, creating inequitable outcomes and practical recovery issues.
- Actuarial certification requirements are unclear. The draft regulations do not clearly state whether an actuary is being asked to certify a dollar amount, a percentage or a methodology, creating uncertainty and increasing compliance costs.
- The small fund attribution formula may produce distorted outcomes where reserves exist. By relying on total superannuation balance values, the formula may unfairly attribute earnings associated with reserves to members who may have no entitlement to those amounts.
Further details regarding these issues and IFPA’s recommended amendments can be found in our submission which can be found here.