AU Investing Notes
The new standard deduction relates to the 2026–27 financial year. It should not be confused with the 2025–26 return many people are preparing in October 2026.
A deduction is not a A$1,000 refund
The enacted legislation introduces a standard deduction for eligible individuals with relevant labour income, subject to its eligibility and calculation rules. A deduction reduces taxable income; the effect on tax depends on your circumstances. It is not an automatic cash payment or a promise that everyone receives the same refund.
Check the rules before comparing methods
The legislation limits the amount by relevant labour income and interacts with specified work-related deductions. It does not permit a blanket double claim of the same expenses. Australian tax residency and the income covered by the provision matter. Use the enacted rules and ATO guidance rather than a shortened social-media headline.
Keep the current return separate
For a 2025–26 return, use the deduction and record-keeping rules for that year. Keep evidence for expenses that require it and check that claims relate to your income-producing work. Records can still be useful even where a later standard deduction may be available. If eligibility or the interaction with itemised expenses is unclear, obtain advice before lodging.
Sources and review date
Original editorial guide by AU Investing Notes. Topic inspiration: Xiaohongshu community post. Community experiences are not official product or eligibility rules.
Reviewed 13 October 2026. General information only; check current official terms and obtain advice appropriate to your circumstances. Cover illustration is AI-generated and is not an actual product screen or case photograph.
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