What will you achieve in 2026?
By Tina Zawila
As we head into 2026, Australian small business owners and individual taxpayers face a year that is less about headline-grabbing reforms and more about administration, compliance and doing the fundamentals well. This gives us all an opportunity to focus on our goals, establish systems, execute projects and move forward with certainty.
From a tax perspective, further personal income tax cuts remain on the horizon, with a scheduled reduction in the 16% marginal rate to 15% from 1 July 2026. While modest ($268 in annual savings for eligible taxpayers), these changes provide some incremental cost-of-living relief.
For small businesses, the Australian Taxation Office (ATO)continues to sharpen its focus on data-matching, real-time reporting and debt management. The message remains consistent: keep records up to date, lodge on time, and engage early if problems arise. The ATO has made it clear that silence or delay is far more likely to result in penalties than proactive communication.
The Australian Taxation Ombudsman’s 2026 work plan also offers useful insight for taxpayers. Key areas of focus include how the ATO manages debt collection, remits interest and penalties, and communicates with taxpayers and their advisers. This highlights an ongoing concern about fairness, transparency and service standards — issues that directly affect small businesses operating with limited time and resources.
Beyond tax, 2026 is a good year to return to good business basics. Review pricing and margins in light of rising costs, ensure payroll and superannuation obligations are being met correctly, and assess whether systems and processes still suit the size and complexity of your business. Many businesses also continue to explore automation and AI tools to reduce repetitive administrative tasks and free uptime for strategic decision-making.
Interestingly, in the Chinese Zodiac, 2026 is the Year of the Horse, which brings “forward momentum, independence and action, marking a shift from introspection to outward progress.” Is this your year to achieve your goals in business and in life?
The professional team at UHY Haines Norton CQ are back on deck and eager to help make 2026 your best year yet. Contact us today on 07 49721300.
