The Australian Taxation Office (ATO) has announced that the government will amend the tax law to deny deductions for ATO interest charges, including general interest charges (GIC) and shortfall interest charges (SIC).

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Deny deductions for ATO interest charges

After 1 July 2025 taxpayers will no longer be able to claim for ATO interest charges.

On 13 December 2023, as part of the 2023–…

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