Australia

ATO Interest Charges Tax Deduction Changes

See how GIC and SIC deduction treatment changed from 1 July 2025 and estimate the cost impact.

Interest Details

This page shows the deduction rule change impact only.

Deduction Impact

Interest amount$1,000.00
Deductible amount$0.00
Non-deductible amount$1,000.00
Estimated tax benefit$0.00
Estimated After-Tax Cost$1,000.00

What Changed

PeriodDeduction Rule
Before 1 July 2025GIC and SIC are deductible
On or after 1 July 2025GIC and SIC are not deductible

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