Australia

Disclaimer: This article is compiled and summarized by the AI based on publicly available information and is for general information purposes only. It does not constitute any form of formal tax advice, legal opinion, or basis for performance. Please consult a qualified professional tax advisor or legal counsel for tax advice. Source: Read Official Announcement

The Tax Practitioner Stewardship Group (TPSG) met on 25 August 2026 and the ATO has published key messages for the 2026 Tax Time period. The update covers changes to work-related expense substantiation, rental property deductions, crypto-asset reporting, and the new Payday Super regime. The ATO also highlighted its focus areas for compliance reviews, including excessive

The ATO has released comprehensive guidance on claiming tax deductions for depreciating assets and capital expenses for the 2026–27 income year. The guidance clarifies the distinction between immediate deductions under simplified depreciation rules (including instant asset write-off) and deductions claimed over time under general depreciation rules. It also addresses capital expenses such as establishment costs,

The ATO has confirmed the instant asset write-off threshold for the 2026–27 income year at $20,000 per asset for small business entities with aggregated turnover less than $10 million. The write-off applies to assets first used or installed ready for use between 1 July 2026 and 30 June 2027. The measure is part of the

The ATO has published a detailed comparison of the two methods for calculating depreciation deductions under the general depreciation rules: prime cost (straight line) and diminishing value. The guidance, updated for the 2026–27 income year, includes formulas, effective life tables, and examples for each method. Taxpayers choose the method per asset, and the choice is

With the third month of the Payday Super regime underway (effective 1 July 2026), the ATO has published a myth-busting guide addressing common misconceptions among employers and payroll providers. Payday Super requires employers to pay superannuation guarantee contributions at the same time as salary and wages, rather than quarterly. The guide clarifies obligations for contractors,

The ATO has published an overview of the simplified depreciation rules for small business entities for the 2026–27 income year. The rules, available to entities with aggregated turnover less than $10 million, include the instant asset write-off ($20,000 threshold) and the small business pool (30% diminishing value). The guide also covers the interaction with temporary

The ATO has updated its guidance on superannuation guarantee obligations for employers engaging sportspeople, performers, musicians, film makers, and related activities. The guidance, effective for payments made on or after 1 July 2026, clarifies when these workers are considered employees for super purposes under the extended definition in the Superannuation Guarantee (Administration) Act 1992. It

The ATO has clarified the interaction between Temporary Full Expensing (TFE) and the simplified depreciation rules for small business entities. As TFE ended on 30 June 2026, the guidance addresses the treatment of assets acquired or first used during the TFE period (7:30pm AEDT 6 October 2020 to 30 June 2026) by small businesses using

The ATO has issued guidance for foreign investors registering interests in Australian agricultural land. The guidance, effective for acquisitions after 1 July 2026, requires registration within 30 days for freehold and leasehold (term >5 years) interests in land used for primary production. The registration captures land use, area, water entitlements, and the foreign investor’s beneficial