July 2026

Tax Time 2026

SMSF Annual Return: 2026 tax stationery is now available.
- There are no major field changes this year, only minor updates to the return.
- Action required: if you're lodging a wind-up fund, you will need to roll back 2026 Tax Finalisation.
Contribution cap indexation applies from 1 July 2026. Check any funds with members contributing near the old caps.
Find out more about all SMSF tax time changes here.
Trust Tax Return: Several field changes have been made in the 2026 Trust Tax Return. If you prepare trust returns, refer to the detailed guide here.

Transfer Balance Cap Indexation

The General Transfer Balance Cap (TBC), the lifetime limit on how much a member can move into a tax-free retirement pension, has increased to $2.1 million from 1 July 2026.
Eligible members' Personal Transfer Balance Cap (PTBC) is automatically indexed in Class based on their transaction history, so no manual action is needed for existing data.
Action required: update external superannuation balances in Class to ensure affected members' PTBC is calculated correctly.
Find detailed worked examples here.

Div 296

Div 296 introduces additional tax for members with total superannuation balances above the relevant threshold. If you have high-balance members, this release gives you the tools to manage the cost base adjustment decision.
Cost base adjustment
- All funds are eligible for cost base adjustments as at 30 June 2026. Review a fund's net capital gain/loss position to help trustees decide whether to make an adjustment.
- Class allows you to record and manage cost base adjustment decisions for Div 296 purposes more details here.
Reports and documentation
- Two new reports are now available:
  - Div 296 cost base adjustment analysis report: documents the fund's net capital gain/loss position.
  - Div 296 Trustee minute/resolution: records the cost base adjustment decision.
- The ATO-prescribed form to formally document the decision will be released once available. We'll notify you when it lands in Class, review our FAQs here.

Updates to Class reports

Class reports have a new look and feel in this release.
A new business-level setting lets you choose between Latest reports (new format) and Legacy reports (existing format).
Reports default to Latest. If you'd prefer to keep the existing format for now, you can switch to Legacy reports in the setting.
All newly created reports going forward will be created in the new style only. Review the checklist with more details here.

ECPI warning message when approving Annual Tax Return

The ECPI (Exempt Current Pension Income) warning message now displays only for the financial year in which a member account goes negative.

Payday Super

Payday Super began on 1 July 2026, requiring Super Guarantee contributions to be paid at the same time as salary and wages.
Class will support the new functionality once our third-party gateway provider completes conformance testing with the ATO. Until then, contributions continue to be processed as normal under the current Contribution Standard (V2).
Action required:
- Ensure the fund and member information is correct in Class,
- Confirm the fund has a New Payment Platform (NPP) enabled bank account to receive employer contributions.
- See our Payday Super FAQ for details here.

Property Paid valuations

To improve visibility during the valuation progress, you'll now receive email notifications at key stages of the order.
Notifications are sent when the job is completed, a message is received, or a delay is raised by the valuer, refer to the guide here.

Partner rebrands

Two of our partners have rebranded.
- Core Logic/RP Data is now Cotality. You'll see this when requesting automated property valuations.
- Digital Rapport is now Rhellm. Used for AI-generated video summaries of fund performance.
Additional free Rhellm video credits are available for the new financial year, a good time to try it if you haven't. Find out more here.

Corporate Actions

For Funds that are processing Div 296 cost base adjustments we recommend not processing corporate actions from 1 July 2026 yet, until we've completed updates to prevent needing to roll back corporate actions later.
Class supports 10 additional corporate actions covering the month of June. Full details are available here.

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