News in brief…3 July 2026

ATO advice and guidance; Legislation update: Acts to enhance Director ID regime, exclude tobacco and gambling from R&DTI, reduce fuel excise duty receive Royal Assent; Bill to amend the foreign resident CGT, merger control regimes introduced to Parliament; Amendments to incorporate elements of Pillar Two Agreed Administration Guidance registered; Final report on Enhanced Regulatory Sandbox independent review released; ATO update: Commonwealth penalty units, ‘significant global entity’ penalties increase