19/05/2026
📝The budget gives with one hand, takes with the other. Here’s what changes for working Australians:
From 1 Jul 2026:
Medicare levy threshold increases. More people pay less or zero levy.
From 1 Jul 2027:
1. $250 tax offset if you earn wages, salary, or sole trader income. Effective tax-free threshold now ∼$20K.
2. $1,000 instant deduction for work expenses. No receipts needed. If your actual expenses are higher, claim the full amount.
Most working Australians get a small win. If you own assets, check our next post for the CGT changes.
Want to know if you’re better off?
DM us “INDIVIDUAL” and we’ll run the numbers for you.
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