General interest and shortfall interest charges no longer deductible
Proposed revisions to the deductibility of general interest and shortfall interest charges have been outlined as part of the 2023-24 Mid-year Economic and Fiscal Outlook. According to the Federal Government, starting from 1 July 2025, general interest charges (GIC) and shortfall interest charges (SIC) will no longer be deductible. The rationale behind eliminating these deductions […]