Emily Stewart

speaker

389 appearances 5 recordings 2 series first heard Mar 2026 last heard 2 Jul

Emily Stewart’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months

Recordings per month over the last 12 months — 5 in all, peaking in Jul 2026 with 2.

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ABC Business Daily · Tax Week: A new $1,000 tax deduction? · 30 Jun 2026 podcast

And you don't need to apply.

It automatically pops up after you've lodged your tax return for the next financial year.

It'll be permanent as well.

So going forward, we'll be all getting that no matter what income we earn.

Most people will be getting that from 1st of July, 2027.

It's not a cash payment though, of course.

So I think that's where the confusion is with both of these.

It reduces your tax bill or it increases your tax refund when you lodge your return.

So, effectively, one way of looking at it is it raises your tax-free threshold.

Now, of course, the way the marginal tax system works is we all benefit, even if we're on $300,000, we all get that small amount of money that is tax-free, and then we pay going up the building blocks of the marginal tax rate system.

So you're not paying like a flat 45%.

It's staged.

And so in effect, workers will pay no tax on income up to $19,985.

So you're getting a slight increase in that bracket of not paying tax.

And it's confusing, but yes, and this is also available to sole traders.

So you've got to be a worker.

So yes, it's got to come from that income from working.

But yes, it's a small offset, but it's supposed to help with cost of living and that sort of thing is why the government has brought it in.

Bye, Carrington.

ABC Business Daily · Tax Week: Your EOFY checklist · 29 Jun 2026 podcast

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