ATO Interest No Longer Tax Deductible in 2025: What Every Business Owner Needs To Know

Quick Summary: ATO Interest (GIC) Tax Deductibility Changes – 1 July 2025 From 1 July 2025, businesses can no longer claim tax deductions for ATO interest charges including General Interest Charge (GIC) and Shortfall Interest Charge (SIC). This change makes tax debts significantly more expensive – what used to cost $100 in after-tax dollars now [&he