Emily Stewart

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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 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

But essentially it's an increase from the amount of money you could claim for work-related expenses without receipts.

And so last financial year we had $300 where we could claim without receipts for those work-related expenses and

and for when we're doing our taxes for the end of this financial year, we'll be able to claim up to $1,000 of work-related expenses without receipts.

It's good for people, I guess, if you have on the lower end of claims.

Of course, you've still got to be claiming things that you have really bought, but easy way to do it, and you can just tick a box and move on.

But if you actually spend a lot on your work-related expenses, you might be better off keeping your receipts, tallying it up, and just seeing whether you'd be better off claiming individual receipts instead of just ticking the box for the $1,000.

A thing that's been confusing, I think, for a lot of people is they think it's $1,000 in their tax refund or $1,000 cash bonus.

Yes.

So it's not for that.

It's to cut down paperwork and essentially it's just a deduction on the income tax you would have paid.

So it's lowering what level of income is taxed.

So you get a percentage of the work-related expense back in your tax return depending on what rate you're taxed at.

And the government has said on average it's going to be a tax saving of around $205 for eligible taxpayers and

And some economists have done some calculations and the maximum benefits is probably around $470.

But you'd have to be earning over $190,000 being taxed at 45% with the 2% Medicare levy to get that much back.

So in terms of actual benefits.

cash, it's probably going to be more around the $200 mark.

But if it saves you time and energy trying to keep up with receipts, some people don't find it easy to organise all their receipts and keep things for tax time.

So it does certainly make it faster and easier.

But yes, if you have higher expenses, it's well worth just adding it up and doing it individually.

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