18/10/2026
Heard About the New $1,000 Tax Deduction?
A new $1,000 standard deduction is planned for eligible Australian workers from the 2026β27 income year.
Instead of claiming individual eligible work-related expenses, workers may be able to choose the standard deduction.
Important: This change does not apply to 2025β26 tax returns.
Understanding which deductions apply to your income year can help you prepare an accurate tax return.
Speak with Wisdom Accounting for guidance on your tax obligations and eligible deductions.
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