News in brief… 26 June 2026

ATO advice and guidance; Legislation update: CGT, negative gearing, income tax rate adjustments bill passes Parliament with amendments; Non-significant global entities loss carry back tax offset, make permanent small business $20,000 instant asset write-off bill referred to Committee for inquiry; RBA opens consultation on its payments system regulation review; Unemployment rate, job vacancies numbers fall in May: ABS

ATO advice and guidance The Australian Taxation Office (ATO) has updated three of its practice statement law administration regarding the offsetting of refunds and credits against taxation and other debts, remission of general interest charge, and collection and recovery of disputed debts. Practice Statement Law Administration – updates PS LA 2011/21 Offsetting of refunds and credits against taxation and other debtsThis Practice Statement provides guidance on the offsetting of refu...

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Published Date: 26 June 2026