ATO interest charges no longer tax-deductible for businesses
Wednesday, September 10, 2025
ATO interest charges no longer tax-deductible for businesses
Effective 1 July 2025, businesses can no longer claim income tax deductions for interest charges imposed by the ATO on unpaid or underpaid tax liabilities. This change applies to general interest charge (GIC) and shortfall interest charge (SIC) amounts incurred in income years starting on or after 1 July 2025.
