Entries by harvest-staff admin

New Financial Year Changes Now in Effect: Key Updates for 2025–26

July 2, 2025 in /by

As of 1 July 2025, several significant tax, payroll, and regulatory changes have officially come into force. From superannuation increases and updates to asset write-offs, to new workplace entitlements, it’s essential for businesses to stay informed and compliant. Here’s what you need to know: Superannuation Guarantee Rate Increases to 12%Effective 1 July 2025, the Superannuation Guarantee […]

ATO INTEREST WILL NO LONGER BE TAX DEDUCTIBLE FROM 1 JULY 2025

June 10, 2025 in /by

We wish to inform you of a significant change in tax legislation that may impact your financial planning and tax obligations. What Is Changing from 1 July 2025?Effective from 1 July 2025, interest charges imposed by the ATO—specifically the General Interest Charge (GIC) and Shortfall Interest Charge (SIC)—will no longer be tax-deductible. This change applies to […]