GIC Non-Deductibility: What the 2025 Tax Law Change Means for You
Starting 1 July 2025, the Australian Tax Office (ATO) will remove the deductibility of General Interest Charges (GIC) and Shortfall Interest Charges (SIC) for all taxpayers. This change, known as the GIC non-deductibility 2025 update, may seem simple at first glance, but the practical implications for individuals, small businesses, and tax practitioners are far from […]

