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The Australian Government will fund a delay to the ATO’s planned ban on credit card tax payments, allowing cards until mid-2027 after small-business criticism. Assistant Treasurer Daniel Mulino said the government knew about the proposal in July.
AllegedThe ATO said absorbing credit card surcharge fees would cost about 200000000 USD per year.
From October 1, Australian businesses cannot add card surcharges and the interchange-fee cap is 0.3%; the RBA says consumers will save $1.6 billion annually. NSW businesses are absorbing fees or raising prices, while the ATO's November 30 credit-card cutoff has drawn backlash.
The surcharge ban is expected to save consumers annually.
Government investment in reforming the child support system
The income limit mentioned for Australians receiving the Low and Middle Income Tax Offset was $126,000.
The Australian Taxation Office reported that 1,149 of 4,299 large corporate entities paid no tax in 2024-25. The data includes Microsoft’s datacentre business, JBS and Singtel, while the ATO noted that nil-tax outcomes can have legitimate explanations.
Share of covered entities that paid no tax in 2024-25