News in brief… 25 June 2026

Non-significant global entities loss carry back tax offset, make permanent small business $20,000 instant asset write-off bill introduced to Parliament; ATO update: Guide on taxation of permanent establishment in Australia, overseas

Non-significant global entities loss carry back tax offset, make permanent small business $20,000 instant asset write-off bill introduced to Parliament The Federal Government has introduced to Parliament a bill that seeks to implement a loss carry back tax offset for corporate tax entities that are not significant global entities and permanently extend the $20,000 instant asset write-off for small businesses. The Treasury Laws Amendment (Tax Reform No. 2) Bill 2026 would amend the income ta...

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Published Date: 25 June 2026