Corporations Point-in-Time Service Updates

The Corporations Service has been updated to include the Treasury Laws Amendment (Business Registries Stabilisation and Uplift) Act 2026 (Cth) (Act No 57 of 2026) and the Treasury Laws Amendment (Delivering an Efficient and Trusted Tax System) Act 2026 (Cth) (Act No 58 of 2026).

Act 57 of 2026

This Act amends various Acts, including the Taxation Administration Act 1953 (Cth), to improve Australia's business registers, with three main components:

• strengthening requirements and enforcement against unlawful activities like illegal phoenixing by linking Director IDs to ASIC's Companies Register;
• ensuring ASIC can continue to effectively administer business registers, including powers to deregister companies in certain circumstances, obtain and publish alternative addresses for service, and correct register information; and
• giving effect to the Government's decision to stop the Modernising Business Registers program, undoing related legislative changes and returning administration of business registers to ASIC.

Act 58 of 2026

The Act makes several changes across Treasury portfolio legislation, including the Income Tax Assessment Act 1997 (Cth) and the Medicare Levy Act 1986 (Cth). The Act includes amendments to:

• remove the two-dollar minimum for tax-deductible donations to Deductible Gift Recipients;
• simplify how trustees of closely held trusts report beneficiary Tax File Numbers by aligning reporting with trust tax return lodgement (replacing the previous quarterly reporting requirement) to support pre-filling of beneficiary tax returns;
• exclude research and development activities related to tobacco and gambling from the R&D Tax Incentive for income years starting on or after 1 July 2025, except where activities are solely for harm minimisation; and
• makes minor technical amendments to keep Treasury legislation fit for purpose.

These amendments have been updated in the Point-in-Time Corporations Service current to 5 July 2026. (NB: subscription required).

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