News in brief…21 April 2026

Consultation open on legislation introducing a $1000 instant tax deduction; ASIC issues 2027 digital assets regulatory framework implementation roadmap

Consultation open on legislation introducing a $1000 instant tax deduction The Federal Government has released for consultation draft legislation that seeks to introduce an instant tax deduction in the form of a $1,000 standard deduction for work-related expenses and amendments to prevent its misuse to obtain a double benefit. The Treasury Laws Amendment Bill 2026: standard deduction for work-related expenses, would amend the Income Tax Assessment Act 1997 to: introduce a standard deduct...

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Published Date: 21 April 2026