The Government is seeking public consultation on draft legislation designed to prevent convicted child sexual abusers from hiding their assets in superannuation to avoid paying compensation to their victims. The draft legislation will enable victims and survivors of child sexual abuse to seek access, via a court order, to additional personal or salary sacrifice superannuation contributions made by the offender where a related court order for compensation remains unpaid after 12 months. Victim-survivors will be able to apply to the ATO, with appropriate safeguards, to identify any potential eligible superannuation prior to seeking access. Unfulfilled historical compensation orders brought into existence before the measure’s commencement will be eligible if they remain legally enforceable and were awarded criminal conviction or finding of guilt for child sexual abuse. Comments due: 20 February 2026.
Financial professionals sit on a goldmine of sensitive information, tax file numbers, bank details, identity documents, superannuation data, payroll records, trust and company structures, and years of client history. That is exactly why your practice is a prime target. In this essential session with Rutland Smith, Director at Harvey Norman Technology for Business, Rutland will cut through the jargon and focus on the real risks facing tax agents, advisers and super specialists, including the most common threats targeting our profession, and the practical steps that reduce exposure before an incident becomes a business-ending event. Drawing on the framework covered in his earlier IFPA webinar, the session will also unpack the Essential Eight Cybersecurity Risk Mitigation Framework and your obligations when handling sensitive financial information, and the simple controls that most firms either delay or assume are already covered.

This is a “know what you do not know” briefing for practice owners and team leaders who want to protect clients, reputation, and cashflow. You will leave with a clearer view of where firms are typically vulnerable, what “good enough” looks like in cyber hygiene, and how to build a more resilient practice without wasting money on noise, gimmicks, or false confidence.

Unions call for CGT discount to be reduced to 25%

The Australian Council of Trade Unions (ACTU) has issued a media release saying that Australian Unions want to see tax changes to help fix Australia’s housing affordability crisis. It said unions want the Government to phase-in a scale back of the size of the CGT discount so that working Australians have a better shot at home ownership. In a submission to the Senate Inquiry into the CGT discount, unions are calling for it to be wound back from 50% to 25%. In its media release, the ACTU also said that these changes should apply to new housing investments beyond a single investment property, leaving the existing CGT discount and negative gearing arrangements in place for up to five years before being phased out giving people time to adjust.

Institute of Financial Professionals Australia comment: A hint of things to come?

Vic: Vacant residential land tax notifications due

The Victorian State Revenue Office (SRO) has advised that you must notify it by 15 February 2026 if you own certain residential land in Victoria that was vacant in 2025. Vacant residential land tax (VRLT) may apply if you own: a home that was vacant for more than 6 months in 2025; a home that has been under construction or renovation, or uninhabitable, for 2 years or more; land in metropolitan Melbourne that has remained undeveloped for a continuous period of 5 years or more and is capable of residential development. The SRO said that if you have made a notification in the past, you only need to make a new one if your circumstances have changed.

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