Tax Insights

From the 2026–27 income year, an asset acquired with the expectation that it will be used mainly to earn assessable labour income generally cannot be newly allocated to a low-value pool. The restriction concerns the asset's expected use when acquired. It is not a …

A balancing adjustment arises when a depreciating asset stops being held or used in relevant circumstances. Broadly, tax law compares its termination value, such as sale proceeds, with its remaining adjustable value. A positive difference may increase assessable income; a negative difference may support …

• It was inserted as section 25-130 of the Income Tax Assessment Act 1997 by the Treasury Laws Amendment (Tax Reform No.

• It was inserted as section 25-130 of the Income Tax Assessment Act 1997 by the Treasury Laws Amendment (Tax Reform No.

• This alert dates from February 2026 but remains on the ATO's list of current scam warnings.

• Figures from the Tax Ombudsman's review page, the yarning sessions ran from 4 May to 25 August 2026.

• The Treasury Laws Amendment (Tax Reform No.