Another kick to Australian taxpayers

The Institute of Financial Professionals Australia is disappointed to note the Government’s intention, as outlined in the 2023-24 Mid-Year Economic and Fiscal Outlook ( MYEFO ), to make the General Interest Charge ( GIC ) and the Shortfall Interest Charge ( SIC ) non-deductible…

The Institute of Financial Professionals Australia is disappointed to note the Government’s intention, as outlined in the 2023-24 Mid-Year Economic and Fiscal Outlook (MYEFO), to make the General Interest Charge (GIC) and the Shortfall Interest Charge (SIC) non-deductible where incurred in income years starting on or after 1 July 2025.

Read the press release issued here.