Tax time is here. Before you lodge your 2026 tax return – here is a quick update on the key 2026 deductions & how you can substnati

An eye from the ATO:

The ATO has also continued to expand its data-matching: it now pre-fills income from employers, banks, share registries, health funds and crypto exchanges, so under-reporting income is easier than ever to get caught on.

The work-from-home deduction:

You can still use the fixed-rate method (a set cents-per-hour rate covering electricity, internet, phone and stationery) or the actual-cost method. The catch with the fixed rate is records: the ATO requires a record of the actual hours you worked from home across the whole year – an estimate is not enough. If you did not keep a diary, the actual-cost method may be your only option.

Car and travel claims

The cents-per-kilometre method covers up to 5,000 business kilometres and needs a reasonable basis for the estimate. Beyond that you need a logbook. Normal home-to-work travel is not deductible – but travel between job sites or to see clients usually is.

The deductions people miss

  • Income protection insurance premiums (where paid outside super)
  • Donations of $2 or more to registered charities
  • The cost of managing your tax affairs – including last year’s accountant’s fee
  • Self-education and professional development directly related to your current work
  • Tools, equipment and subscriptions used for work (immediate deduction under $300, otherwise depreciated)
  • A reasonable, work-related portion of phone and internet

Before you lodge

Resist the urge to lodge in early July. Come in and see us in late July or early August.

Pre-fill data from employers, banks and funds is usually not complete until late July or August – lodge too early and you risk an amendment later. If your affairs are simple, waiting a few weeks often means an easier, more accurate return. If they are not simple – investments, a rental, crypto, or a side business – it is worth having an accountant prepare your return so nothing is missed and nothing is over-claimed.

At QC Accountants we help Gold Coast businesses and investors stay on top of changes like this. If anything here applies to you, book a chat or call (07) 5593 6060.

General information only — not financial or legal advice. Rules and thresholds change; check current requirements with the ATO (and QBCC where relevant) or speak to us before acting.