Australia Tax Agency Seeks Comments on Draft Legislative Instrument Regarding Filing Requirements for Various Returns

The Australian Taxation Office Feb. 13 opened a consultation on Draft Legislative Instrument No. LI 2026/D2, on the 2026 income tax return filing requirements for various taxes. The draft instrument includes measures to: 1) define relevant terms; 2) specify which taxpayers are required to file income tax returns, and which taxpayers are exempt from filing; 3) set an individual income tax return filing deadline of Oct. 31, with exceptions; and 4) clarify the criteria and deadlines for corporate entities required to file franking returns and venture capital deficit tax returns, and individuals required to file ancillary fund returns and self-managed ...