Australia: Legislation excluding tobacco and gambling from R&D tax incentive and reducing fuel excise duties receive Royal Assent
30.4% reduction in fuel excise duties from July 1, 2026, to the day before indexation is applied in August 2026
The following Acts received Royal Assent on June 30, 2026:
- Treasury Laws Amendment (Delivering an Efficient and Trusted Tax System) Act 2026, which excludes research and development (R&D) activities related to tobacco and gambling from the R&D tax incentive and allows donors to claim a tax deduction on donations to deductible gift recipients even if they are valued less than AU$2
- Treasury Laws Amendment (Fuel Excise Relief No. 2) Act 2026, which introduces a 30.4% reduction in the excise duty rates and excise equivalent customs duty rates for fuels, including petrol and diesel and similar petroleum-based products, from July 1, 2026, to the day before indexation is applied in August 2026