Global Interest Charges Change Will Affect Businesses With Outstanding Tax Debts – Here’s How
It’s crucial to be aware of significant changes affecting businesses with outstanding tax debts. Effective from 1 July 2025, the Australian Taxation Office (ATO) will no longer allow the deductibility of General Interest Charges (GIC) incurred on or after this date. What This Means for Your Business Previously, businesses could claim a tax deduction for…