and if you have concerns about possible challenges to your will | and SOFY is an ideal time to review your goals | but as a result of the recent Federal Budget proposals to introduce a 30% tax on discretionary trusts. The driver here is that investment bond income is taxed at a maximum 30% inside the bond | finances and family situations. The arrival of a new child or grandchild | have an expert in your corner There is a lot to think about following the Budget announcements. Your financial adviser can play a key role | however families can be complex | if you contributed $5000 last investment year | investment bonds may suit you. Not only do investment bonds that are appropriately structured sit separately from other estate assets | it can be worth looking at an alternative strategy. We've seen a strong uplift of interest in investment bonds | it's time to plan for the start of the financial year. Most Australians tend to focus their energy on the end of the financial year. But the SOFY | My Money | not just because of the Division 296 tax | Now that the dust has settled on the EOFY rush | or a divorce or separation | simply open a new investment bond. 5. Stay informed | Sponsored | start of the financial year | these can be cues for a chat with a financial adviser. 2. Could your super be impacted by the new Division 296 tax and other tax reforms? July 1 marks the start of Division 296 | whereas investment income of discretionary trusts will be taxed at a minimum 30%. Did you know? From July 1 | you can add a maximum of $6250 in the current investment year without tax payable until after the 10-year advantage period is reset. If you'd like to contribute more
How to embrace the start of the financial year
By Vincent Stranges Published on June 29, 2026
Get stories like this in our newsletters.
Related stories
