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
2 After subsection 25-100(1)
Insert:
Transport expense
(1A) A transport expense is a loss or outgoing to do with transport (including the decline in value of a *depreciating asset used in connection with transport) but does not include:
(a) a loss or outgoing for accommodation or for food or drink; or
(b) expenditure incidental to transport.
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