Treasury Laws Amendment (Tax Reform No. 1) Act 2026 (49 of 2026)
Schedule 4 Standard deduction for work-related expenses
Part 1 Amendment of the Income Tax Assessment Act 1997
Income Tax Assessment Act 1997
17 Application provision
(1) The amendments made by this Part apply in relation to assessments for the 2026-27 income year and later income years.
(2) To avoid doubt, the amendment made by item 8 does not apply in relation to depreciating assets that have been allocated to a low-value pool for an income year that is the 2025-26 income year or an earlier income year.
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