In this episode of Tax Yak, Tiffany Douglas chats with colleague George Housakos, senior tax trainer at TaxBanter, about a significant issue facing the tax profession from 1 July 2025: taxpayers will no longer be able to claim an income tax deduction for ATO interest charges.

George is a CPA and brings over 25 years of tax expertise, including 20 years at the Australian Taxation Office where he specialised in disputes and interpretative advice. He also has substantial experience in training and assessment within the TAFE sector. George is well known for his practical and pragmatic approach to providing taxation and superannuation advice.

This podcast explores the challenges businesses must address when financing their activities. For further insights, consider signing up to TaxBanter’s special topic on “Financing business activities,” which will examine the various forms of debt and equity financing, as well as their tax implications. Topics covered include:

Listen to Episode 70:

In this episode of TaxYak, our Senior Tax Trainers Phillip London and George Housakos yak with Arthur Athanasiou, Tax Partner at Thomson Geer. They take a deep dive into the burning issues resulting from the Full Federal Court’s 3:0 decision in favour of the taxpayer in FCT v Bendel issued on 19 February 2025, where an Unpaid Present Entitlement (UPE) was found not to be a loan for the purposes of Division 7A Income Tax Assessment Act (ITAA) 1936.

For example:

The Bendel decision is not a green light that Division 7A cannot be triggered for UPEs. We hope you enjoy this episode of TaxYak.

Listen to Episode 69:

In the highly anticipated final instalment of our three-part Tax Yak podcast series, George Housakos sits down once again with Nicholas Giasoumi, Director at Dye & Co., to shed light on small business restructures in 2024.

With a focus on eligibility and practical application, this episode dives into the complexities of restructuring options for small businesses. Whether you’re facing financial uncertainty or looking to take proactive steps to safeguard your business, Nicholas offers clear, actionable advice to guide you through the process.

Here’s what you’ll learn:

As a trusted expert in personal and corporate insolvency, Nicholas brings decades of experience helping businesses across a range of industries navigate financial challenges. His advice is tailored to help you make informed decisions and take control of your financial future.

Catch Up on the Full Series

Don’t miss this invaluable series to help tax professionals and business owners navigate ATO enforcement notices and insolvency with confidence.

Bonus for Tax Yak Listeners

Nicholas is offering a free 1-hour consultation to any Tax or BAS Agent who refers a case to Dye & Co.

In this episode of Tax Yak, George Housakos sits down with Nicholas Giasoumi, a seasoned chartered accountant, registered liquidator, and trustee in bankruptcy, to demystify the complex world of bankruptcy. This is the second instalment in our three-part series with Nicholas.

In Episode 66, we explored ATO-issued notices such as Director Penalty Notices, Statutory Demands, and more.

Now, in Episode 67, Nicholas addresses the burning question: Will I lose my house if I declare bankruptcy? Topics include:

Nicholas also shares case studies—successes and challenges in his role—and clarifies other common concerns, including asset retention and the duration of bankruptcy.

Don’t miss Episode 68, where we discuss Small Business Restructures in 2024 and eligibility requirements!

In this episode of Tax Yak, host George Housakos sits down with Nicholas Giasoumi, a highly respected Director at Dye & Co., chartered accountant, registered liquidator, and trustee in bankruptcy. This marks the start of a powerful three-part series where Nicholas brings decades of experience to help you understand crucial aspects of debt enforcement and insolvency.

Host: George Housakos, Senior Tax Trainer, TaxBanter

Dive into the best practices for handling ATO-issued Director Penalty Notices, Statutory Demands, Garnishee Notices, and Credit Report Bureau Notifications.

Tune in to gain practical insights for navigating ATO debt issues effectively, with special tips on handling Director Penalty Notices, Statutory Demands, Garnishee Notices, and Credit Report Bureau Notifications.

In this 2 part episode series of Tax Yak, George Housakos yaks with Vincent Licciardi on two very hot issues for the new financial year of 2024/25: The new tax agent breach reporting regime and the new Code of professional conduct determination.

Host: George Housakos | Senior Tax Trainer, TaxBanter

This episode, they focus on the new Legislative Instrument registered on 2 July 2024 titled Tax Agent Services (Code of Professional Conduct) Determination 2024 (for registered tax agents and BAS agents), which took effect from 1 August 2024 – although transitional rules have been announced which will give practitioners an extension until next year provided ‘genuine steps’ towards compliance have been made. Registered tax practitioners need to pay immediate attention to the Instrument, as it introduces new obligations under the Code administered by the TPB and action should be taken now to show that ‘genuine steps’ toward compliance have been made.

New Code obligations include:

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Want to get maximum understanding of the recent reforms and planned changes? Join us on 30 August for our comprehensive webinar tax practitioner breach reporting and beyond!

In this 2 part episode series of Tax Yak, George Housakos yaks with Vincent Licciardi on two very hot issues for the new financial year of 2024/25: The new tax agent breach reporting regime and new Code of Conduct of professional conduct determination.

Host: George Housakos | Senior Tax Trainer, TaxBanter

This episode, we will focus on the new tax agent breach reporting regime, whereby the TPB has provided guidance material pursuant to TPB (I) D53/2024 (which came into effect on 1 July 2024, whereby tax practitioners (which includes Tax and BAS agents) gain an understanding of the updated breach reporting obligations under section 30-35 and 30-40 of the Tax Agents Services Act (TASA) 2009.

These obligations require registered tax practitioners to mandatorily report on two matters:

Want to get maximum understanding of the recent reforms and planned changes? Join us on 30 August for our comprehensive webinar tax practitioner breach reporting and beyond!

In this episode of Tax Yak, our host Tristan Webb chats with Christopher Ryan at the Australian Taxation Office, about the ATO’s recently finalised guidance on section 100A.

Host: Tristan Webb | Tristan on LinkedIn >

Guest: Christopher Ryan, Assistant Commissioner, Engagement and Assurance Services, Private Wealth Business Line, ATO

Want to get your Section 100A understanding to the next level?

Get our recording of our presentation Section 100A: Where are we now? 

Register for the recording >