Chartered Accountants Australia and New Zealand (CA ANZ) has described the 2026 Federal Budget as one of the most significant Budgets in recent times, as it fundamentally changes the taxation of capital and trusts.
"What's announced tonight lands on the desks of Chartered Accountants tomorrow, who will need to work with Australian people and small businesses to understand and implement them," said CEO of Chartered Accountants ANZ, Ainslie van Onselen.
"There are genuine positives in tonight's Budget, and we acknowledge the government's willingness to address some long-standing imbalances."
"We encourage the Government to continue to prioritise fiscal prudence and not just increase taxes to address government spending."
CA ANZ's Group Executive for Advocacy, Public and Government Affairs, Damian Ogden, said the Budget will be judged not on its announcements but on its outcomes.
"Implementing these reforms will require effective and timely consultation on both the design and draft legislation to ensure that unintended consequences are minimised.
"Chartered Accountants will be central to the successful implementation of any structural change, because they are the backbone of a well-functioning financial system," Mr Ogden said.
