Australian Treasurer Jim Chalmers delivered the 2026-27 Budget on 12 May 2026. Some of the main tax measures highlighted in the budget include the following:
- Starting from the 2027-28 income year, a permanent AUD 250 annual tax offset will be introduced for income derived from work, such as wages and sole trader business income, which effectively raises the tax-free threshold for workers to AUD 19,985, or up to AUD 24,985 for workers eligible for the Low Income Tax Offset;
- Starting from the…