Scope: Global
Status requires verification
Cents per Kilometre Deduction Rate for Car Expenses 2026 Determination (Australia)
From 1 July 2026, the rate for calculating work-related motor vehicle deductions using the cents-per-kilometre method is set at **91 cents/km** in Australia—a base rate of 89 cents plus a one-off uplift of 2 cents. Applies to income year 2026-27.
Editorial impact label: Low
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jul 1, 2026
- Verification
- Not recorded
Open cited source
Scope: Australia
Status requires verification
Division-296: Additional Tax on Super Earnings for Balances Above AU$3 Million
From 1 July 2026, individuals with a total super balance exceeding AU$3 million will pay an additional 15% tax on super earnings above that threshold; balances over AU$10 million incur an extra 10% on the excess above AU$10 million. The tax will be assessed via Notice of Assessment in 2027-28 once funds report earnings. ([community.ato.gov.au](https://community.ato.gov.au/s/article/a07Mo00001w0qcO/what-division-296-tax-changes-means-for-your-super-balance?utm_source=openai))
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jul 1, 2026
- Verification
- Not recorded
Open cited source
Scope: Global
Status requires verification
GDP adjustment for 2026-27 GST and PAYG instalments
From 1 July 2026 Australia increases the GDP adjustment factor used for calculating quarterly GST and PAYG instalment amounts from 4% to **5%**; applies to income years starting 1 April 2026 (subs accounting periods starting Jan-Mar continue to use previous rate).
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jul 1, 2026
- Verification
- Not recorded
Open cited source
Scope: Canada
Status requires verification
T4032 Payroll Deductions Tables guides effective July 1, 2026 are now available
The CRA released updated Payroll Deductions Tables (T4032) guides effective July 1, 2026, which businesses must use to calculate federal, provincial income tax deductions, CPP contributions, and EI premiums; revises withholding rates applicable to pay-periods from that date forward.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jul 1, 2026
- Verification
- Not recorded
Open cited source
Scope: Global
Status requires verification
Australia’s Division 296 Tax on Super Earnings Above $3 Million Threshold
From 1 July 2026 Australia introduces Division 296 tax: superannuation earnings linked to total super balances above AUD 3 million will be taxed at 15%. Furthermore, earnings above AUD 10 million will incur an additional 10% tax on that portion. Only the earnings tied to the excess are taxed – not the entire balance.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jul 1, 2026
- Verification
- Not recorded
Open cited source
Scope: Australia
Status requires verification
2026 Pay as you go (PAYG) withholding tax tables updated for personal tax cuts and threshold changes
As of 1 July 2026 new withholding tax tables will apply reflecting personal income tax rate cuts legislated in the 2025-26 Budget (via the More Cost of Living Relief Act 2025), plus indexation adjustments to study and training support loan repayment thresholds. Employers must use updated formulae (e.g. NAT 1004, 3539 etc.) to calculate withheld amounts and repayment obligations.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jul 1, 2026
- Verification
- Not recorded
Open cited source
Scope: Australia
Status requires verification
Closure of Small Business Superannuation Clearing House and Payday Super reforms
From 1 July 2026, the Small Business Superannuation Clearing House (SBSCH) will permanently close. This forms part of the broader payday super reforms, which require employers to make superannuation contributions for employees at each payday (not quarterly), ensure funds reach super funds within 7 business days after payday, and report qualifying earnings and super liabilities via Single Touch Payroll each pay period.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jul 1, 2026
- Verification
- Not recorded
Open cited source
Scope: United Kingdom
Status requires verification
Increase in the rate of the Electricity Generator Levy
The UK government is raising the rate of the Electricity Generator Levy (EGL) from 45% to 55%, effective from 1 July 2026. This temporarily increased tax applies to surplus revenue above a benchmark for large renewable generators not benefiting from new Contracts for Difference. The change reflects extraordinary electricity generation revenues due to high gas prices triggered by the conflict in the Middle East. It is intended to increase revenue and help offset energy cost pressures on businesses and households.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jul 1, 2026
- Verification
- Not recorded
Open cited source
Scope: Canada
Status requires verification
T4032 Payroll Deductions Tables Effective July 1, 2026
The CRA released updated T4032 Payroll Deductions Tables, effective July 1, 2026. Employers must use the new tables to calculate federal, provincial income tax withholdings, CPP contributions, and EI premiums. Failure to update payroll systems may lead to incorrect deductions; impacts are medium for employers and employees alike, especially for those close to bracket thresholds.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jul 1, 2026
- Verification
- Not recorded
Open cited source
Scope: Global
Status requires verification
Australia’s Payday Super reforms – new rules for superannuation guarantee timing
From 1 July 2026, the Australian ‘Payday Super’ reforms require employers to make superannuation contributions by specific deadlines relative to each employee’s qualifying earnings day. The Small Business Superannuation Clearing House (SBSCH) will close permanently as of 30 June 2026, forcing users to adopt alternative payment methods. Employers face liability under the Super Guarantee (SG) Charge if they fail to meet the new timing rules. These reforms aim to reduce contribution delays and improve compliance.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jul 1, 2026
- Verification
- Not recorded
Open cited source
Scope: United Kingdom
Status requires verification
12-month VED (Vehicle Excise Duty) holiday for certain HGVs
The government is implementing a **12-month exemption** from Vehicle Excise Duty for certain heavy goods vehicles between **1 July 2026 and 30 June 2027**, under the Taxation (Energy and Vehicles) Bill. Intended to ease cost pressures on the haulage sector amid energy and supply chain shocks.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jul 1, 2026
- Verification
- Not recorded
Open cited source
Scope: Australia
Status requires verification
GDP adjustment factor for GST and PAYG instalments for income year 2026-27
From 1 July 2026 the GDP adjustment factor used in calculating quarterly GST and PAYG instalment amounts increases to **5%** for most taxpayers. Taxpayers with substituted accounting periods whose income year starts 1 Jan, 1 Feb or 1 Mar 2026 will continue to use the prior 4% factor. Those starting accounting periods from 1 April 2026 will use the new 5% adjustment.
Editorial impact label: Low
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jul 1, 2026
- Verification
- Not recorded
Open cited source
Scope: Canada
Status requires verification
Updated Payroll Deductions Tables (T4032) effective July 1, 2026
New T4032 payroll deduction tables became effective on July 1, 2026. These tables are used to calculate federal and provincial income tax deductions, Canada Pension Plan (CPP) contributions, and Employment Insurance (EI) premiums for paycheques. All employers must use the new tables for pay periods starting on or after that date to ensure correct withholding.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jul 1, 2026
- Verification
- Not recorded
Open cited source
Scope: Australia
Status requires verification
Division 296 tax changes to earnings on super-balances over $3 million from 1 July 2026
From 1 July 2026, individuals with a Total Super Balance (TSB) above the Large Super Balance Threshold (LSBT) (set at $3 million) will have **15% tax** on proportion of super earnings exceeding that threshold. Those above the Very Large Super Balance Threshold (VLSBT) ($10 million) will pay an additional **10% tax** on earnings over the VLSBT. The measure applies only to the earnings portion above the thresholds; it does not tax the full balance. Assessments will be issued in the latter half of 2027-28 once earnings are reported by super funds. These thresholds may be indexed with CPI in future years.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jul 1, 2026
- Verification
- Not recorded
Open cited source
Scope: Australia
Status requires verification
GDP adjustment factor set to 5% for 2026-27 GST and PAYG instalments from 1 July 2026
The GDP uplift factor (used to adjust instalment amounts for GST and PAYG instalments) will increase to **5%** from 1 July 2026 for the 2026-27 income year. Taxpayers with substituted accounting periods starting in January to March 2026 will continue using the 2025-26 GDP adjustment of 4%, while those whose income year starts from **1 April 2026** will apply the new 5% uplift. This will increase tax instalment amounts for many businesses.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jul 1, 2026
- Verification
- Not recorded
Open cited source
Scope: Australia
Status requires verification
Cents-per-Kilometre deduction rate increased to 91 cents from 1 July 2026
For the 2026-27 income year, the base cents-per-kilometre rate for work-related car expenses under the simplified method is **$0.91 per kilometre**, including a temporary 2-cent uplift over the base rate of 89 cents. This applies to all eligible taxpayers who choose this method; future rates will be indexed from the 89-cent base once the uplift is removed.
Editorial impact label: Low
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jul 1, 2026
- Verification
- Not recorded
Open cited source
Scope: Canada
Status requires verification
Interest rates for the third calendar quarter 2026
The Canada Revenue Agency announced prescribed annual interest rates effective July 1 to September 30, 2026: 7 % on overdue taxes, CPP and EI premiums; 3 % on corporate overpayments; 5 % on non-corporate overpayments; 3 % for employee/shareholder interest-free or low-interest loan benefits; and 6.30 % for corporate loans or indebtedness. These rates impact individuals and businesses’ cash flow, reporting, and benefit valuations.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jul 1, 2026
- Verification
- Not recorded
Open cited source
Scope: Australia
Status requires verification
Division 296 additional tax on earnings from large super balances
From 1 July 2026, individuals with Total Super Balances over $3 million will incur a 15% tax on super earnings above that threshold. Those with balances exceeding $10 million will pay an additional 10% on earnings over $10 million (i.e. 25% rate on that portion). The thresholds will be indexed and only the earnings portion above thresholds are taxed.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jul 1, 2026
- Verification
- Not recorded
Open cited source
Scope: Australia
Status requires verification
Cents per Kilometre Deduction Rate 2026 Determination
For the 2026-27 income year, the cents-per-kilometre rate used for calculating work-related car expense deductions is **91 cents per kilometre**, temporarily up from the base 89 cents. This applies to eligible taxpayers using the cents-per-kilometre method and will be the rate until future determinations.
Editorial impact label: Low
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jul 1, 2026
- Verification
- Not recorded
Open cited source
Scope: United States
Status requires verification
Summer 2026 expanded features for Business Tax Account (BTA)
The IRS expanded the features in the Business Tax Account platform including access to more digital notices (CP081B, CP211A, CP134R, etc.), ability for designated officials to download EIN verification notice CP575 (usable in lieu of Letter 147C), schedule and cancel payments up to a year in advance, view processed payments and transcripts, manage multiple bank accounts and give account access to eligible employees. These additions aim to simplify business tax compliance through enhanced digital self-service.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jul 1, 2026
- Verification
- Not recorded
Open cited source