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No More Tax Deductions for ATO Interest Charges from 1 July 2025

No More Tax Deductions for ATO Interest Charges from 1 July 2025

by Peter Ristevski | Aug 13, 2025 | ATO, Tax Deductions

From 1 July 2025, Australian taxpayers will no longer be able to claim deductions for interest charges imposed by the Australian Taxation Office (ATO), such as General Interest Charge (GIC) and Shortfall Interest Charge (SIC). This change, announced in the 2023–24...

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