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Update: Federal Budget 2026

What has passed?

  • Individuals – $1,000 standard deduction for work related expenses
  • Self Managed Superannuation Funds – Limited Recourse Borrowing Arrangements (LRBA) no longer permitted for acquisitions of Residential Property
  • Capital Gains – 50% CGT discount for individuals, trusts and partnerships replaced with cost base indexation and a 30% minimum tax rate – Except for new builds purchased after 1 July 2027
  • Negative Gearing – Negative gearing on residential investment properties purchased after 7:30 pm AEST on 12 May 2026 only applies to new builds
  • Individuals – $250 Working Australians Tax Offset
  • Small Business CGT – Increase turnover threshold to $10m for the Active Asset Discount

What has not yet passed?

  • Companies – Loss Carry back for 2026-27 and 2027-28
  • Businesses – $20,000 Instant asset write off being permanent
  • 30% Minimum tax on discretionary trusts & limitations on distributions to corporate beneficiaries.  It has been announced that there will be a carveout for Testamentary Trusts.
  • 30% Minimum tax on discretionary trusts & limitations on distributions to a corporate beneficiary
  • Changes to Fringe Benefits Tax (FBT) exemption for electric vehicles 
  • Research and development tax incentive (R&D) changes 

If you have any questions in relation to the Federal Budget, please do not hesitate to contact your Harris Black Tax Specialist.

Harris Black Business Leaders Forum – August 2026

We’re excited to invite you to our next HB Business Leaders Forum on Thursday, 27 August 2026 focusing on “Thriving Under Pressure: The New Rules of People Performance in a VUCA World​“.

Event Details:

  • Date: 27 August 2026
  • Time: 7:45am to 11:00am
  • Location: Business Hub, Level 1 100 Creek Street Brisbane Qld 4000
  • Suggested Parking – Secure Parking Adelaide Street
  • Light breakfast and morning tea will be provided

Pressure has become the default operating condition for leaders: volatile markets, AI moving faster than most teams can absorb it, productivity challenges and decisions piling up quicker than ever. Leaders thriving in these conditions are adapting how they operateday-to-day where they work smarter not harder. ​

This session cuts through the noise to focus on what lets leaders perform under sustained pressure. You’ll look at: ​

  • Why capacity runs out faster than it used to; ​
  • How to hand off the work that’s draining you; ​
  • Wew efficiency approaches; ​
  • Best practice insights to people performance in a challenging market;​
  • and how to handle the conversations most leaders avoid. ​

A wealth of shifts you can apply into your day-to-day. You’ll leave with sharper thinking, experienced peer perspective, and a handful of practical shifts to lead higher performance without burning out your people or yourself.

Book your ticket now. ​

Harris Black News

We are pleased to announce the well-deserved promotions of four outstanding team members whose dedication, expertise, and commitment have contributed significantly to the success of Harris Black.

Taylor Dicken

Patrick Humphrey

Kyle Underhill

Bhavya Sadhwani

  • Taylor Dicken has been promoted to Senior Manager, recognising Taylor’s leadership, technical capabilities, and ongoing contribution to both clients and colleagues.
  • Pat Humphrey has been promoted to Manager, reflecting Pat’s continued professional growth, strong client relationships, and commitment to delivering exceptional outcomes.
  • Kyle Underhill and Bhavya Sadhwani have both been promoted to Supervisor, acknowledging their hard work, increasing responsibilities, and positive impact on their teams and clients.

These promotions represent not only individual achievements but also the strength and future of our firm. We congratulate Taylor, Pat, Kyle, and Bhavya on reaching these important milestones and look forward to seeing their continued success in their new roles.

Harris Black Staff Day 2026

On Friday, 17 July, the Harris Black team came together for our annual Staff Day, a valuable opportunity to step away from our day-to-day responsibilities and focus on our future, our people, and our continued growth as a firm.

The day commenced with breakfast and an introduction from Nathan Gordon (Director at Harris Black), setting the scene for the theme of the day: connecting purpose to strategy. The day commenced with breakfast and an introduction from Nathan, setting the scene for the theme of the day: connecting purpose to strategy.  Nathan also took the opportunity to celebrate several important milestones and achievements across the firm. Staff congratulated Taylor Dicken on their promotion to Senior Manager, alongside Patrick Humphrey on promotion to Manager, and Kyle Underhill and Bhavya Sadhwani on their promotions to Supervisor.

The team also recognised significant anniversaries, including Renee’s 20-year anniversary as a Director, Pat’s 5-year anniversary, and Keziah’s 10-year anniversary with Harris Black.

In addition, staff celebrated some exciting personal milestones. Congratulations were extended to Kimberley and family on the arrival of Koda Brock Ward, and to Amelie on graduating from university, both wonderful achievements that were warmly acknowledged by the team.

Staff then participated in a strategy workshop led by the Principals (Bjorn Kirberg, Olivia Beckett and Keziah Sedgwick), encouraging everyone to contribute ideas and explore how we can continue to strengthen Harris Black for the years ahead.

A highlight of the morning was Renee’s (Director at Harris Black) presentation on global leadership trends and the importance of trust in high-performing organisations. The session provided valuable insights into the changing business landscape, and the role trust plays in building strong teams and client relationships.

Following morning tea, we welcomed Petris Lapis, who facilitated two engaging sessions. The first focused on critical thinking and innovation, challenging staff to think differently, embrace new ideas, and identify opportunities for continuous improvement. The afternoon session explored managing change fatigue, resilience and burnout, providing practical strategies to navigate workplace challenges while maintaining wellbeing and performance.

The day concluded with an open discussion led by the Directors and Principals, giving staff the opportunity to share reflections, feedback and ideas for future improvements. Paul Whimp (Director at Harris Black) then wrapped up the day and presented prizes before the team prepared for the afternoon activities.

Of course, Staff Day wasn’t all work. The team enjoyed a fun team-building activity organised by the Social Committee before heading to Naldham House for dinner, where everyone had the chance to relax, connect and celebrate together.

Staff Day 2026 was a great reminder of the strength of our people, the importance of continuous learning, and the value of coming together as a team. Thank you to everyone who contributed to making the day a success.

Meet The Staff – Alastair Brett

We’re pleased to introduce Alastair, whose love of travel, sport and good food brings plenty of energy to the team. If he could only eat one meal for the rest of his life, it would be homemade fajitas — a dish he also enjoys cooking, alongside a classic French toast.

Originally from Fife in Scotland, Alastair moved to Australia at the age of 12 and still follows Scottish Rugby Union closely. Outside of work, he enjoys socialising, travelling throughout Europe, spending time with his dog, and is already looking forward to a potential ski trip to Japan in early 2027.

Alastair also has an interesting claim to fame, being distantly related to Admiral Horatio Nelson. If he could choose any superpower, it would be teleportation — making travel even easier.

With his adventurous spirit and enthusiasm for new experiences, Alastair brings a great perspective to the team, and we’re delighted to have him on board.

How can we help you?

Today’s financial environment demands a regular review of strategy and a focus on execution.