MBF President Update June 2026
- 3 days ago
- 2 min read
Hi Everyone,
Given that we had a budget last month I thought that I would look at some of the key pointers that could affect micro businesses.
Among the Budget initiatives are:
Permanent $20,000 instant asset write-off - from 1 July 2026, the Federal Government will permanently extend the $20,000 instant asset write-off for small businesses.
Loss carry back measures - from 1 July 2026, companies will be able to carry back a tax loss and offset it against tax paid up to two years earlier.
Loss refundability for small start-up companies - from 1 July 2028, start-up companies that generate a tax loss in their first two years of operation will be able to utilise the loss to generate a refundable tax offset.
Capital gains tax (CGT) changes - the Government has announced proposed reforms to the capital gains tax system from 1 July 2027 but have confirmed they will maintain existing CGT concessions for small businesses.
Working Australians Tax Offset - a new $250 annual tax offset from 2027–28 will apply to Australian workers, including sole traders.
Mental health and financial wellbeing support - an additional $8 million from 1 July 2026 will support the continuation of the New Access for Small Business Owners program and the Small Business Debt Helpline.
Fuel disruption relief and business support will continue and temporary ATO relief measures will apply for businesses unable to meet tax obligations due to fuel supply disruptions.
Extending unfair trading protections - continued protections for small businesses, including franchisees, with a view to addressing the power imbalance faced by small businesses when dealing with larger businesses.
Expanded venture capital incentives - from 1 July 2027, changes designed to better facilitate venture capital investment and support early stage and growth businesses, particularly where traditional finance is more difficult to obtain.
Trade and export support - by removing 497 nuisance tariffs with a view to further cutting costs for Australian businesses. The Budget also expands the Australian Trusted Trader program with a view to making exporting easier for small businesses.
Research and Development Tax Incentive reforms - from 1 July 2028, reforms to the R&D Tax Incentive are intended to simplify access and better support innovation and investment by growing businesses.
The Budget also provides updated economic forecasts, with growth expected to slow in 2026-27 before recovering in 2027-28. So, it could be a tough time for small businesses over the coming months, which as I have mentioned previously, is exactly where I feel that MBF has such a vital role to play.
As I have been preparing for my own Forum later this month, it really drove home to me how important all the information from our Forums is, also the relevance of that information. Plus, the support we provide to each other not just at our Coffee Connections and Forum meeting, but beyond that on a day-to-day basis. I am very proud to be part of this wonderful organisation.
For further support you and your business through the coming months, we are hosting two great events this June. I highly encourage you to join us to connect, plan, and grow together:
Thank you.
Alison Carroll
President
