Concept Accountants

💰$1,000 standard deduction for
work expenses

👉FYI - The new $1,000 standard deduction cannot be claimed for the 2026 income year, it kicks in from
1 July 2026 for future financial years.

Then, you can choose either the standard deduction for work-related expenses of up to $1,000, or…
a deduction for actual work-related expenses.

So… You should continue keeping records for deductible work expenses incurred from 1 July 2026.

👉Then… at the end of the 2027 income year, you can claim your actual expenses (if you have the receipts/evidence) or just claim the standard $1000.

🥸 Makes perfect sense?

☎️ Call us for more information on 1300728048

☎️ Call us on 1300728048 to book your appointment or to find out about other options we offer to assist you with your tax return.

👇Here are just a few tips to better your tax return!

✅ Save receipts digitally throughout the year to ensure you don’t forget any.

✅ Avoid auto-fill traps as bank and employer data can be incomplete or delayed.

✅ Prepay expenses and bring forward deductible costs before the end of the financial year.

✅ Have more tax taken out of your pay which may help to receive a larger refund at the end of the year, or it may prevent a surprise tax bill.

✅ If you have more than one job or income, check that you are paying the correct amount of tax.

✅ Use professional help!
A registered tax agent will…

👍 Ensure you claim everything possible for your industry or profession.

👍 Give you important information on other strategies to ⭐️maximise your future tax returns.

👍 Their fees are also deductible on your next return.

⭐️ Depending on your circumstances there can be many concepts for improving your tax returns. Check with your tax professional at your next appointment!

☎️ Call us on 1300 728 048
if you require assitance.

🤨💥 SCAM ALERT 💥🤨
Another of the latest scams (by email)
Received from the “Gouvernement”🤣Once you click on the email addressee it shows the scam address (easiest way to check). Plus they can’t spell!

Probably phishing for personal information & bank details!
Dont be fooled!

Don’t drink and do tax! 🤣🤣🤣

But seriously…
It’s highly recommended to use a taxation professional to avoid a future tax nightmare and to also get the best possible result!

☎️ Our friendly team is just a phone call away! 1300728048

Dear Clients,

Please find attached a summary table outlining the proposed Capital Gains Tax (CGT) treatment for various categories of assets based on acquisition and disposal dates.

The table provides a general overview of:
🔑 Pre-CGT assets acquired prior to 20 September 1985
🔑 Existing CGT assets acquired after 20 September 1985
🔑 The potential application of the 50% CGT discount
🔑 The proposed transition to an indexed cost base method from 1 July 2027

📌 Please note that this information is intended as a general guide only and does not constitute personal taxation advice.

📌 The taxation outcome for each taxpayer will depend on individual circumstances, including residency status, ownership structure, and the nature of the asset involved.

📌 We recommend seeking professional advice before making any decisions regarding the acquisition or disposal of assets.

📌 We will continue to monitor developments and provide further updates as additional details or legislation becomes available.