Individuals: simpler deductions and targeted cost-of-living relief

  1. Home /
    2. Accounting /
  2. Individuals: simpler deductions and targeted cost-of-living relief
Accounting Individuals Tax

Individuals: simpler deductions and targeted cost-of-living relief

2026 Federal Budget Proposal

What to know:

  • $1,000 standard tax deduction: removes need to track minor work-related expenses.
  • $250 annual tax offset: applies from the 2027–28 income year.
  • Medicare levy thresholds increased: protects low-income earners.
  • Fuel excise reductions: temporary cost-of-living support.
If you’d like to understand what the NSW Budget means for you and plan accordingly, our Enrizen advisers are here to help—start the conversation here.