The ATO recently advised that the claiming of ATO interest charges (being general interest charge (GIC) and shortfall interest charge (SIC)) will no longer apply as of 1st July 2025. Any GIC or SIC incurred prior to 1st July 2025 is not impacted by the changes to the law and will continue to be deductible for the 2024-2025 and earlier income years.
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Testimonial by Edward & Laura
When looking for a broker, we wanted someone that we could trust to guide us through all the bank noise during this momentous decision. We had previously worked with another broker, and the level of advice and service was left rather wanting. A family member suggested we contact Paul to have a chat, and we were very impressed. We are so grateful that Paul was recommended to us, they couldn't speak more highly of him, and they weren't wrong. Ours was a long journey lasting for well over a year. Paul was with us from the beginning, guiding us with budgeting, managing our expectations and equipping us with the knowledge and confidence to pursue our dream home. After a nerve-wrecking journey and missing out on several properties, we eventually found our ideal home. We are so happy with our journey. Paul patiently kept us focused on our goals the entire time. His decades of experience and knowledge were conveyed to us through his professional, confident approach, which in turn filled us with the confidence we needed. Thanks Paul!