"Ajen is an accountant who is down to earth and genuinely interested in their clients prospering."
"As a trusted advisor you guided our business back on course when the outlook was far from positive and we look forward to your continued assistance into the future"
"His attitude towards his work and my portfolio has been exemplary. He always finds time for me at short notice and is a benefit to all."
"Ajen always has a high standard of professional manner. He continued to give me good advice and is a reliable person, helpful in sorting out problems and finding solutions easily."
"Ajendra has made himself available sometimes even after normal business hours, to assist us with any questions we have, even when sometimes they may have seemed silly or simple, he has answered in full and easy to understand terminology, at no point has he ever made me feel silly for asking."
"He is always accessible to speak with and even calls me to ask if I need help with anything."
"Ajendra's willingness to dedicate "caring time" to his clients sets him apart from others."
"I am confident to refer friends and family to his team because I know they are in the most capable hands. Ajendra’s honest, caring and upbeat nature has been an absolute godsend and I am so thankful that our paths crossed"
"Ajendra’s speaks with you in a language that you can understand and comprehend easily which assists in equity and partnership with your tax agent."
"We find you have a personal approach to your accounting practice, which makes everyone feel like number 1. This is a rare and special trait, and leaves us knowing we are in good hands."
"He is very astute, and at the same time down to earth and really interested in his clients prospering. For people like us who are new to small business this is an absolute god sent."
"He shows a genuine interest and I never feel rushed. He has created a warm and friendly environement."

Non deductibility of ATO interest charges for businesses

Businesses can no longer claim income tax deductions for ATO general interest charge (GIC) and shortfall interest charge (SIC) charged on unpaid/underpaid tax liabilities. This change applies to amounts incurred in income years starting on or after 1 July 2025.

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Previously, businesses could deduct ATO-imposed interest charges on overdue tax debts, reducing the net cost of these charges. From 1 July 2025, this deduction is no longer available.

This legislative change is significant for businesses that manage cash flow by deferring tax payments, as the cost of carrying tax debt will effectively increase. Without the tax deduction, the real cost of ATO interest charges rises, making it more expensive to delay tax payments. Currently, the GIC rate is 11.17%.

The removal of tax deductibility for ATO interest charges underscores the importance of timely tax compliance.

 

 

 

 

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