Home Business news Millions of Australians will get a $1,000 instant tax deduction under a...

Millions of Australians will get a $1,000 instant tax deduction under a new law – here’s how it will work

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Draft legislation for treasurer Jim Chalmers’ new instant tax deduction policy lands just over a year after Labor proposed the change in the run-up to the 2025 election

Millions of Australian workers from next year will be able to “instantly” claim a standard deduction of up to $1,000 in work-related expenses without having to keep receipts.

The draft legislation for the policy landed on Monday, just over a year after Labor proposed the change in the run-up to the 2025 election.

Continue reading…Draft legislation for treasurer Jim Chalmers’ new instant tax deduction policy lands just over a year after Labor proposed the change in the run-up to the 2025 electionGet our breaking news email, free app or daily news podcastMillions of Australian workers from next year will be able to “instantly” claim a standard deduction of up to $1,000 in work-related expenses without having to keep receipts.The draft legislation for the policy landed on Monday, just over a year after Labor proposed the change in the run-up to the 2025 election. Continue reading…

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