Australia strengthens beneficial ownership transparency, expands small business asset deductions

The key measures focus on improved beneficial ownership disclosure for listed entities and the extension of the instant asset write-off for small businesses. 

The Treasury Laws Amendment (Strengthening Financial Systems and Other Measures) Bill 2025 was presented in Australia’s Parliament on 4 September 2025.

The key measures focus on improved beneficial ownership disclosure for listed entities and the extension of the instant asset write-off for small businesses, outlined in Schedule 1 and Schedule 1, respectively, and summarised in the explanatory memorandum as follows:

Schedule 1 – Enhanced beneficial ownership disclosure for listed entities

Outline

Chapter 2 Schedule 1 to the Bill amends the Corporations Act to enhance the beneficial ownership disclosure obligations that already apply to entities listed on Australia’s financial markets (referred to in this Explanatory Memorandum as ‘listed entities’). In particular, these amendments bolster the substantial holding and tracing notice regimes that govern the disclosure of beneficially owned interests in listed entities. This will improve corporate transparency by showing who ultimately owns, controls, and receives profits from companies. The amendments also broaden ASIC’s regulatory enforcement powers in respect of disclosure obligations and related matters.

Date of effect

The amendments commence 12 months after Schedule 1 to the Bill receives Royal assent.

Schedule 7 – $20,000 instant asset write-off for small business entities

Outline

Schedule 7 to the Bill amends the Income Tax (Transitional Provisions) Act 1997 (ITTP Act) to extend the AUD 20,000 instant asset write-off by 12 months until 30 June 2026. This will allow small businesses (with an aggregated annual turnover of less than AUD 10 million) to immediately deduct the full cost of eligible depreciating assets costing less than AUD 20,000 that are first used or installed ready for use for a taxable purpose on or before 30 June 2026. The extension will improve cash flow and reduce compliance costs for small businesses.

Date of effect

Schedule 7 to the Bill commences on the day after Royal Assent. The measure applies to eligible depreciating assets first used or first installed ready for use for a taxable purpose in the period from 1 July 2025 until 30 June 2026.