Standard deductions

On 11 May 2010, the government announced it would provide individual taxpayers with an optional standard deduction of $500 in lieu of claiming work-related expenses and the cost of managing their tax affairs.

As part of the Mid-Year Economic and Fiscal Outlook 2011-12 released on 30 November 2011, the government announced the measure would be deferred.

On 8 May 2012 the government announced in the 2012-13 Budget, that it will no longer proceed with this measure.

Media release

For more information, refer to joint media release No.034 2012-13 Budget builds on growing record of tax reform, released by the Deputy Prime Minister and Assistant Treasurer and Minister Assisting for Deregulation.

More information For more information, refer to 2012-13 Budget Paper No 2, page 36.