News in brief… 28 August 2025

ATO advice and guidance; Legislative instrument registered specifying jurisdictions with qualifying GloBE taxes; More Australian businesses, less partnerships – ABS reveals seven Australian business facts.

ATO advice and guidance The Australian Taxation Office (ATO) released its latest advice and guidance on Wednesday 27 August, which includes a draft Pillar Two legislative instrument.  Fact sheet Fact Sheet Denying deductions for ATO interestThis Fact Sheet explains the law change that denies income tax deductions for ATO interest (that is, general interest charge and shortfall interest charge). It applies for most taxpayers to interest they incurred on or after 1 July 2025. The Fac...

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Published Date: 28 August 2025