Scope: Australia
Status requires verification
Division 296 tax changes for Total Super Balance over $3 million
An additional tax (Division 296) will apply from 1 July 2026 for individuals whose total superannuation balance (TSB) exceeds $3 million—those between $3 million and $10 million will pay 15% tax on earnings above $3 million; those with over $10 million TSB will pay additional 10% on earnings above $10 million. Only earnings over thresholds are taxed. Assessments expected in late 2027-28.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jul 1, 2026
- Verification
- Not recorded
Open cited source
Scope: Global
Status requires verification
British Columbia lowest personal income tax rate increase effective July 1, 2026
The Government of British Columbia increased the lowest provincial personal income tax rate from 5.06 % to 5.60 % and increased the basic reduction amount (tax credit) from $562 to $690. Employers must use new payroll deduction tables effective for the first payroll in July 2026, and a prorated rate of 6.14 % applies for the remaining six months of the year for the lowest bracket.
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
Payroll Deductions Formulas - 123rd Edition - Effective July 1, 2026
As of July 1, 2026, Canada Revenue Agency released the 123rd edition of payroll deduction formulas. It captures updated federal and provincial income tax brackets, constants, and rates—for example changes in British Columbia, Newfoundland and Labrador, and Prince Edward Island—and will guide all payroll withholding starting with the first payroll in July for these changes.
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
The Canada Child Benefit payments increasing in 2026-2027
Effective July 1, 2026, the Canada Child Benefit (CCB) payments increased: families receive up to $8,157 per child under age 6 and up to $6,883 per child aged 6-17. Compared to the previous year, increases are up to $160 (for under 6) and up to $135 (for 6-17). Approximately 3.6 million families benefit nationally; in Newfoundland and Labrador ~47,000 families.
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
Payday Super reforms: super guarantee paid each payday from 1 July 2026
Employers must transition from paying superannuation contributions quarterly to paying **each payday**, using qualifying earnings; contributions must reach funds within 7 business days. The Small Business Superannuation Clearing House (SBSCH) closes permanently from 1 July 2026, requiring users to shift to alternative arrangements.
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 on super earnings for balances over $3 million
From 1 July 2026, an additional tax applies on earnings tied to the portion of a superannuation account balance that exceeds AUD 3 million (LSBT), and further rates apply when balance exceeds AUD 10 million (VLSBT). Assessments expected in 2027-28. Only earnings above thresholds are taxed extra.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jul 1, 2026
- Verification
- Not recorded
Open cited source
Scope: Global
Status requires verification
Canada Groceries and Essentials Benefit (CGEB) replaces GST/HST Credit
As of July 2026, the GST/HST credit has been renamed to the Canada Groceries and Essentials Benefit. Eligibility remains broadly the same. Payments issued quarterly; first payment under CGEB was July 3, 2026. Includes one-time top-up in June 2026 and incorporates provincial/territorial amounts where relevant.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jul 1, 2026
- Verification
- Not recorded
Open cited source
Scope: United States
Status requires verification
Rev. Rul. 2026-12 Applicable Federal Rates for July 2026
The IRS revenue ruling that sets out the short-term, mid-term, and long-term applicable federal rates (AFRs), adjusted AFRs, and related tax-exempt or housing credit percentages for federal purposes such as debt instruments, annuities, and valuation under IRC sections like 1274, 1288, 382, 7520, 7802, etc., applicable for July 2026.
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
Payday Super reforms including closure of SBSCH from 1 July 2026
Super guarantee payment frequency changes: from 1 July 2026 employers must pay super each payday; super payments must reach funds within 7 business days; Small Business Superannuation Clearing House closes permanently.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jul 1, 2026
- Verification
- Not recorded
Open cited source
Scope: Global
Status requires verification
What Division 296 tax changes means for your super balance
Australia introduces new taxation on super fund earnings above high balance thresholds. From July 1, 2026, if your total super balance exceeds $3 million, earnings above this threshold incur an additional 15% tax; if it exceeds $10 million, earnings above that incur an extra 10% on top of that. Assessments will be issued in 2027-28 once earnings are reported by super funds.
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
Division 296 tax: additional tax on super earnings if total super balance over $3 million
From 1 July 2026, superannuation funds must report relevant earnings for members whose Total Super Balance (TSB) exceeds the Large Super Balance Threshold (LSBT) of $3 million. For the 2026-27 financial year, earnings above that threshold will be taxed at **15%**, and for those with balances above the Very Large Super Balance Threshold (VLSBT) of $10 million, an additional **10% tax** applies on earnings exceeding the VLSBT. Only the portion of earnings linked to balance above thresholds is taxed—not the whole super balance. Assessments will issue in the latter half of 2027-28 once super funds report earnings. Thresholds may be indexed in future years. ([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: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jul 1, 2026
- Verification
- Not recorded
Open cited source
Scope: Australia
Status requires verification
2026 PAYG withholding tax tables updated with personal income tax rate cuts
From 1 July 2026, Australia’s PAYG withholding tax tables and schedules are updated to reflect tax rate cuts announced in the 2025-26 Budget via the Treasury Laws Amendment (More Cost of Living Relief) Act 2025. Key changes include the reduction of certain marginal income tax rates and the indexation of study and training support loan repayment thresholds. Employers must use the new schedules for withholding from that date. ([softwaredevelopers.ato.gov.au](https://softwaredevelopers.ato.gov.au/PAYGWTaxtables?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: Australia
Status requires verification
Payday Super reforms start: employers pay super each payday and SBSCH closing
Beginning 1 July 2026, the Payday Super reforms require employers to calculate super on “qualifying earnings” and make super guarantee contributions each payday, with payments due to employees’ super funds within 7 business days of the payday. The Small Business Superannuation Clearing House (SBSCH) will permanently close from that date; existing users must switch to an alternative and download their records before closure. ([community.ato.gov.au](https://community.ato.gov.au/s/article/a07Mo00001qD2iH/payday-super-starts-1-july-heres-what-employers-need-to-know?utm_source=openai))
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 for 2026-27 GST and PAYG instalments set at 5%
From 1 July 2026, the Gross Domestic Product (GDP) adjustment factor used to work out quarterly GST and PAYG instalment amounts will be **5%** for the 2026-27 income year. Some taxpayers with substituted accounting periods starting in January-March 2026 will continue using the prior year’s 4% rate. Those starting their income year from 1 April 2026 use the new 5% adjustment. ([softwaredevelopers.ato.gov.au](https://softwaredevelopers.ato.gov.au/GDPupliftfactor?utm_source=openai))
Editorial impact label: Low
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jul 1, 2026
- Verification
- Not recorded
Open cited source
Scope: Global
Status requires verification
Interest rates for the third calendar quarter
Canada Revenue Agency released prescribed interest rates effective July 1, 2026 to September 30, 2026. Overdue taxes are set at 7%; overpayments for corporate taxpayers at 3%; non-corporate at 5%. Includes rates for GST/HST, excise, and other charges. Impacts tax cost of delays or refunds.
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 super balance tax changes
From 1 July 2026, individuals with a total superannuation balance above A$3 million will pay a **15 % tax** on the portion of their super earnings linked to the balance exceeding that threshold; for balances above A$10 million, an additional **10 % tax** applies to earnings above that very large super balance threshold.
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
Division 296 Superannuation Additional Tax on Earnings for Total Super Balance Over $3 Million (Better Targeted Superannuation Concessions)
From 1 July 2026, individuals whose total super balance (TSB) exceeds AUD 3 million at year-end will pay 15 % tax on super earnings attributable to amounts over the threshold. If TSB exceeds AUD 10 million, an additional 10 % applies for earnings over that higher threshold.
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 on Super Balances over $3 Million
From 1 July 2026 (2026-27 income year), individuals whose **Total Super Balance (TSB)** exceeds the Large Super Balance Threshold of $3 million will pay a **15% additional tax** on the portion of earnings attributable to the balance over this threshold. For very large balances (over $10 million), an **extra 10% tax** applies on earnings above the $10 million threshold. The tax applies only to those earnings linked to the excess over thresholds (not the entire balance). Super funds will report required earnings to the ATO, which will issue assessments. This aims to improve equity in superannuation concession settings. ([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: Australia
Status requires verification
Payday Super Reforms – Super Paid Each Payday
Effective from **1 July 2026**, the “Payday Super” reforms require employers to shift from paying superannuation quarterly to making payments **each payday**. Employers must calculate super based on *qualifying earnings*, which includes ordinary time earnings and some contractor payments. Super payments must reach employees’ super funds within **7 business days after each payday** (subject to certain exceptions). Single Touch Payroll (STP) reporting will be updated to include qualifying earnings and super liability on a per-pay period basis. The Small Business Superannuation Clearing House will close permanently as part of this change. ([community.ato.gov.au](https://community.ato.gov.au/s/article/a07Mo00001qD2iH/payday-super-starts-1-july-heres-what-employers-need-to-know?utm_source=openai))
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
Cents-per-Kilometre Deduction Rate Update
From **1 July 2026**, the deduction rate for motor vehicle expenses under the cents-per-kilometre method is set at **91 cents per kilometre** for the 2026-27 income year. This includes a temporary uplift of 2 cents above the base (89 cents) for that year. Eligible taxpayers who elect to use this method will use the new rate until further determination. ([softwaredevelopers.ato.gov.au](https://softwaredevelopers.ato.gov.au/CentsperKilometreDeductionRateforCarExpenses?utm_source=openai))
Editorial impact label: Low
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jul 1, 2026
- Verification
- Not recorded
Open cited source