The Federal Treasurer handed down the 2026-27 Federal Budget on 12 May 2026. There's a lot to unpack — so we've done the work for you. Here are the key announcements that matter most to our clients. Income Tax Cuts — Already Legislated The Government has confirmed previously legislated personal income tax cuts: From 1 July 2026 — the 16% tax rate on income between $18,201 and $45,000 reduces to 15% From 1 July 2027 — the same rate reduces further to 14% This is particularly g