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Treasury Laws Amendment (Tax Reform No. 2) Act 2026

Act No. 71 of 2026 · Assented 26 August 2026

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In brief

Restores a loss carry back tax offset for companies that are not significant global entities, lifts the small business instant asset write-off threshold from $1,000 to $20,000, exempts PNG Chiefs Limited employment income, and extends negative gearing exceptions for inherited or transferred dwellings.

Who's affected

  • Companies with tax losses
  • Small business entities
  • PNG Chiefs Limited employees
  • Residential property investors

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