#EveryoneNeedsAPlan: Tax Debt Loan Interest Not Deductible From 1 July 2025

Posted by Dean McKinnon on 29 February 2024

The federal government announced recently that they would introduce amendments to disallow tax deductions for interest incurred on tax debts

Both the General Interest charge and Shortfall Interest Charge will not be a tax-deductible expense for the taxpayer
The changes are proposed to commence from 1 July 2025 – i.e. 2026 FY
Currently, both Interest Charges are tax deductible to the taxpayer

Author:Dean McKinnon

Tags:Tax

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#EveryoneNeedsAPlan: Tax Debt Loan Interest Not Deductible From 1 July 2025

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