Every time Noel Whittaker publishes a new column or newsletter, we summarise the highlights here so you can catch the ideas that matter.
In the August 2026 edition of Noel News, Noel Whittaker takes aim at what he calls the death, divorce and disaster tax — a quiet change buried in recent Budget legislation that he believes deserves far more attention than it's getting.
Here's the issue. From 1 July 2027, long-standing capital gains tax (CGT) rollover protections are removed for assets that change hands because of death, divorce or an insurance payout. In plain terms: tax can fall due on gains built up before that date even though nothing has been sold and not a dollar has been received. That breaks a principle Australians have relied on for decades — that you pay CGT when you sell, not when life simply happens to you.
If you're between 40 and 60, this lands squarely in your world. It's the stage of life where you may inherit from your parents, hold an investment property with big built-in gains, or go through a divorce settlement. Noel's example is sobering: Kerry bought three hectares in 1990 for $80,000, worth $2 million by 30 June 2027. Because the main residence exemption covers only two hectares, a death after 1 July 2027 could trigger a tax bill of more than $100,000 — potentially forcing the family to sell the property to pay it.
Noel's message isn't panic — it's preparation. The timing and structure of your estate plans now matter enormously, and he's promised more analysis of the fallout in coming issues. If you own assets with large unrealised gains, this is one to raise with your adviser well before 2027.
"No legislation should create incentives where the timing of a person's death can alter a family's tax bill by more than $100,000."
Read the full article: Noel News — August 2026 — Noel Whittaker, Noel News, August 2026.
Worried about what these changes mean for your will and your family? Wills, Death & Taxes Made Simple by Noel Whittaker walks you through estate planning, super death benefits and the tax traps that catch families out. Buy direct from the author for $22.95 — instant download in PDF and EPUB.