As of 1 July 2025, interest charges on unpaid tax debts – including the General Interest Charge (GIC) and Shortfall Interest Charge (SIC) – are no longer tax deductible. Previously, businesses and individuals could claim a deduction for these interest expenses, softening the financial blow of running behind on ATO payments. That is no longer…
With superannuation reforms on the horizon, professionals across the financial services industry are turning their attention to Division 296 – set to impact individuals with super balances above $3 million from 1 July 2025. At TAG Financial Services, we pride ourselves on staying ahead of legislative changes and helping our clients and colleagues do the…
Estate planning is one of those topics many of us know we s hould address — yet it often ends up at the bottom of the to-do list. Understandably, thinking about what happens after we’re gone isn’t easy. But failing to plan properly can lead to unnecessary stress, conflict, and financial hardship for your loved…
Labor’s win in the 2025 Federal Election sets the stage for a wave of economic and tax reforms that could reshape the financial advice and accounting landscape.
If your residential property was vacant in 2024 calendar year in Victoria, you may be subject to vacant residential land tax. What’s more, if you have yet to notify the State Revenue Office, you must by 15 January, otherwise you may be subject to penalty taxes. If you have already made a notification, you only…