Paige Estritori wraps the week for Australian tradies: the 14 May 2026 budget makes the $20,000 instant asset write‑off permanent, frees access to construction standards, returns loss carry‑back from 1 July 2026, and introduces a 30% minimum tax on discretionary trusts from 1 July 2028 with rollover relief from 1 July 2027. Budget steps on insurance affordability focus on clearer hazard definitions and premium transparency, not major mitigation spend. Australias litigation climate is intensifying, raising liability risk for worksites. SME credit demand softened, but asset finance proved resilient; multiple credit applications are rising among high‑risk firms. Takeaways: review sums insured, confirm public liability limits and exclusions, avoid shotgun credit enquiries, and update policies when adding assets.
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