The 2026–2027 Federal Budget’s headline personal tax measures will reshape financial planning strategies from 2027. A new $250 working Australians tax offset (WATO) will apply from 1 July 2027, effectively increasing the tax-free threshold for work income to $19,985. Combined with the previously announced $1,000 standard deduction for work-related expenses, workers could see substantial tax savings.

In the Budget, the Government did not announce any further changes to the personal tax rates. However, the proposed new $250 working Australians tax offset (WATO) from 1 July 2027 is expected to increase the effective tax-free threshold for income derived from work by nearly $1,800 to $19,985 (or up to $24,985 for workers eligible for the low income tax offset (LITO).

The Federal Government has released draft legislation for a new “instant” standard tax deduction that would allow eligible taxpayers to claim work-related expenses at tax time without receipts. This would replace the current $300 no-receipt immediate deduction limit.

Artificial intelligence tools are becoming increasingly popular for answering money-related questions. While these tools can be helpful for summarising information and helping you work out what to research next, convenience doesn’t equal accuracy.

Owning an investment property can be tax-effective, but it’s also one of the ATO’s most closely monitored areas. Here are five errors that most often trigger ATO follow-up, and the related issues to keep in mind.

If you’ve lost your home, property or business to a natural disaster, knowing what to do next can be daunting. The good news is there’s help available to help you navigate the recovery process.

Many people getting their tax notice of assessment wonder why they see amounts for the Medicare levy and Medicare levy surcharge. Here’s how it works.

If you’ve ever felt unsure about doing your tax online – or you’re helping someone who is – there are safe, simple ways to learn how it all works.