Fundamentals of Tax 2025-2026: Income & deductions package

This package offers a foundational exploration of assessable income and allowable deductions under Australian tax law. Designed for new and early-career tax professionals, these practical sessions provide essential insights into the key income and deduction rules that determine a taxpayer’s liability. Through legislation, case law, and real-life examples, participants will learn how to identify, classify, and apply income and deduction principles relevant to a range of taxpayer circumstances, including individuals, employees, landlords, and business operators.

Across the 5 sessions, participants will be able to:

Assessable Income

• Understand the legislative and common law framework that defines assessable income.
• Calculate net tax payable for different types of taxpayers.
• Accurately characterise and report various forms of income.

General Deductions

• Explain the general deduction rules and the legislative basis for allowable deductions.
• Identify deduction issues specific to business income and commercial operations.
• Apply deduction principles through practical case studies.

Employment-Related Deductions

• Determine deductibility of work-related expenses.
• Understand substantiation rules and available exemptions.
• Use a structured framework to assess employee deductions.

Motor Vehicle and Travel Deductions

• Apply legislation and ATO guidance to travel expense claims.
• Identify exceptions to the home-to-work travel rule.
• Evaluate issues related to vehicle use in income production.

Rental Property Deductions

• Understand “negative gearing” and its application.
• Apply the nexus principle to rental income and related expenses.
• Address finance and travel rules specific to property owners.