Month: July 2025

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Division 7A – benchmark interest rate

Source: New places to play in Gungahlin

Benchmark interest rates

Under Division 7A of Part III of the Income Tax Assessment Act 1936, the ‘benchmark interest rate’ for an income year is the ‘Indicator Lending Rates – Bank variable housing loans interest rate’. This is the ‘Housing loans; Banks; Variable; Standard; Owner-occupier’ rate last published by the Reserve Bank of AustraliaExternal Link before the start of the income year. The benchmark interest rate for an income year does not change if the Reserve Bank of Australia later revises its published rate after the start of the income year.

Current and past benchmark interest rates

These rates apply to private companies with an income year ending 30 June.

A private company that meets certain requirements may adopt an income year ending on a date other than 30 June – a substituted accounting period. Those companies will need to determine the relevant rate.

Benchmark interest rates – 2021 to 2026 income years

Income year ended 30 June

Rate

ATO reference

2026

8.37%

This is the ‘Indicator Lending Rates – Bank variable housing loans interest rate’ published by the Reserve Bank of Australia on 6 June 2025.

2025

8.77%

This is the ‘Indicator Lending Rates – Bank variable housing loans interest rate’ published by the Reserve Bank of Australia on 7 June 2024.

2024

8.27%

This is the ‘Indicator Lending Rates – Bank variable housing loans interest rate’ published by the Reserve Bank of Australia on 7 June 2023.

2023

4.77%

This is the ‘Indicator Lending Rates – Bank variable housing loans interest rate’ published by the Reserve Bank of Australia on 2 June 2022.

2022

4.52%

This is the ‘Indicator Lending Rates – Bank variable housing loans interest rate’ published by the Reserve Bank of Australia on 2 June 2021.

2021

4.52%

This is the ‘Indicator Lending Rates – Bank variable housing loans interest rate’ published by the Reserve Bank of Australia on 2 June 2020.

Substituted accounting period

If a private company has adopted a substituted accounting period, the applicable benchmark interest rate is the ‘Housing loans; Banks; Variable; Standard; Owner-occupier’ rate last published by the Reserve Bank of AustraliaExternal Link before the start of the private company’s substituted accounting period.

Example 1: substituted accounting period starting on 1 November 2022

Company ABC has a substituted accounting period starting on 1 November 2022. According to the Reserve Bank of Australia website, the last interest rate published before 1 November 2022 was 6.77%. This was the rate for September 2022, published in October 2022. The benchmark interest rate for Company ABC’s income year starting 1 November 2022 is 6.77%.

End of example

Example 2: substituted accounting period starting on 1 May 2023

Company XYZ has a substituted accounting period starting on 1 May 2023. According to the Reserve Bank of Australia website, the last interest rate published before 1 May 2023 was 8.02%. This was the rate for March 2023, published in April 2023. The benchmark interest rate for Company XYZ’s income year starting 1 May 2023 is 8.02%.

End of example

Access the Division 7A calculator and decision tool.

This tool will help you determine the effects and your obligations on Division 7A – Loans by private companies.

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Progress for affordable housing in Curtin

Source: Northern Territory Police and Fire Services

Our CBR is the ACT Government’s key channel to connect with Canberrans and keep you up-to-date with what’s happening in the city. Our CBR includes a monthly print edition, email newsletter and website.

You can easily opt in or out of the newsletter subscription at any time.

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PRRT augmentation and gross domestic product factor rates

Source: New places to play in Gungahlin

For information about the different classes of deductible expenditure and which uplift rates to use for each class of deductible expenditure, refer to PRRT deductible expenditure.

Table: Petroleum resource rent tax (PRRT) augmentation and gross domestic product (GDP) factor rates

Year

Long term bond rate (LTBR) expressed as a %

LTBR + 5%

LTBR + 15%

Gross domestic product (GDP) factor rate*

2024

4.25

9.25

N/A

1.027

2023

3.61

8.61

N/A

1.061

2022

2.11

7.11

N/A

1.069

2021

1.18

6.18

N/A

1.027

2020

1.03

6.03

N/A

1.019

2019

2.25

7.25

17.25

1.032

2018

2.70

7.70

17.70

1.017

2017

2.42

7.42

17.42

1.039

2016

2.61

7.61

17.61

0.997

2015

3.00

8.00

18.00

0.997

2014

3.98

8.98

18.98

1.015

2013

3.24

8.24

18.24

0.997

2012

4.01

9.01

19.01

1.016

2011

5.31

10.31

20.31

1.063

2010

5.50

10.50

20.50

1.013

2009

4.95

9.95

19.95

1.051

2008

6.18

11.18

21.18

1.042

2007

5.82

10.82

20.82

1.046

2006

5.40

10.40

20.40

1.050

2005

5.42

10.42

20.42

1.040

2004

5.68

10.68

20.68

1.035

2003

5.34

10.34

20.34

1.028

2002

5.88

10.88

20.88

1.026

2001

5.82

10.82

20.82

1.045

2000

6.51

11.51

21.51

1.017

1999

5.45

10.45

20.45

1.004

1998

5.98

10.98

20.98

1.018

1997

7.63

12.63

22.63

1.015

1996

8.67

13.67

23.67

1.029

1995

9.85

14.85

24.85

1.021

1994

7.39

12.39

22.39

1.015

1993

8.35

13.35

23.35

1.010

1992

9.87

14.87

24.87

1.014

1991

12.11

17.11

27.11

1.030

1990

13.31

28.31

28.31

1.058

1989

12.86

27.86

27.86

1.093

1988

12.55

27.55

27.55

1.084

1987

13.57

28.57

28.57

1.083

1986

13.65

28.65

28.65

1.068

1985

13.41

28.41

28.41

1.065

1984

12.72

27.72

27.72

1.071

1983

14.43

29.43

29.43

1.111

1982

15.48

30.48

30.48

1.103

1981

12.58

27.58

27.58

1.108

1980

10.66

25.66

25.66

1.104

Note

* The GDP factor rate is based on the annual change to the gross domestic product (GDP) implicit price deflator index as first published by the Australian Bureau of Statistics (ABS).

This ABS publication 5206.0 – Australian National Accounts: National Income, Expenditure and ProductExternal Link is updated quarterly.

For additional legislative information on the GDP factor rate calculation methodology and/or augmented bond rate, see the Petroleum Resource Rent Tax Assessment Act 1987:

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Call for information – Criminal damage – Alice Springs

Source: Northern Territory Police and Fire Services

The Northern Territory Police Force is investigating a criminal damage incident that occurred early this morning in Alice Springs.

Around 4am, the Joint Emergency Services Communication Centre (JESCC) received reports of a male smashing the windows of a restaurant on Railway Terrace in the Alice Springs CBD.

It is alleged the male had been refused service at the restaurant drive-through and subsequently parked the silver Holden Commodore he was driving, retrieved a blunt weapon from the boot and smashed multiple windows of the restaurant, including the entrance door.

Police responded immediately however the offender fled the scene prior to their arrival in the Commodore.

No injuries were reported to police, and the offender remains outstanding.

Investigations are ongoing and anyone with information is urged to contact police on 131 444 and quote reference P25182316. Anonymous reports can be made through Crime Stoppers on 1800 333 000 or via https://crimestoppersnt.com.au/. 

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Driver arrested after crashing stolen car at Athol Park

Source: New South Wales – News

A man was arrested after failing to stop for police in a stolen car at Athol Park overnight.

About 3.15am on Tuesday 8 July, police tried to pull over a vehicle on Athol Street, Athol Park, however, the driver refused to stop.

In the brief pursuit, the Holden SUV reached speeds of up to 120 km/h in the 50 km/h zone before trying to turn and colliding with a kerb on Glenroy Street, rendering the car undriveable.

The driver ran a short distance before being caught in Lavinia Street and arrested.

Police checks confirmed the Holden had been reported stolen from Salisbury Plain yesterday.

The 35-year-old Salisbury Park man was charged with illegal use, theft, drive dangerously to evade police, exceed speed and drive disqualified.

He did not apply for bail and will appear in the Port Adelaide Magistrates Court today.

The stolen vehicle was towed from the scene for forensic examination.

CO TBA

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Serious crash at Morphett Vale

Source: New South Wales – News

Police are investigating a serious crash at Morphett Vale last night.

About 10.20pm on Monday 7 July, police and emergency services were called to the intersection of Alexander Avenue and Bains Road after reports of a collision involving a Hyundai sedan and an electric bicycle.

The rider of the bike, a 28-year-old Morphett Vale woman was taken to hospital in a critical condition.

The driver of the sedan, an 18-year-old Christies Beach woman was not injured and is assisting police with their enquiries.

Major Crash officers attended the scene and roads were closed for several hours but have since reopened.

Anyone who may have witnessed the crash is asked to call Crime Stoppers on 1800 333 000, or online at www.crimestopperssa.com.au

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Secure all food, bait and rubbish on K’gari

Source: Tasmania Police

Issued: 2 Jul 2025

Open larger image

This dingo has removed the lid from a jar of peanut butter found in rubbish.

Open larger image

Dingoes will tear open tents and containers to access food and rubbish.

Photos of damaged tents show the incredible sense of smell dingoes have, and their capacity for opportunistic feeding in the camping areas on K’gari.

Taken by rangers from the Department of Environment, Tourism, Science and Innovation (DETSI), the photos show the results of food and rubbish being incorrectly stored by campers.

Dr Linda Behrendorff said dingoes recently gorged themselves on accessible food and rubbish after breaking into a tent and then began hanging around the camping area.

“Dingoes are opportunistic by nature and have torn open tents, can chew eskies open and knock over bins before ripping rubbish bags apart,” Dr Behrendorff said.

“Wildlife scavenging around camping areas is a common occurrence, and the problem with leaving food or rubbish where dingoes or other wildlife can get it makes them less fearful of humans.

“Dingoes don’t differentiate between food and rubbish, and they can start approaching people for food which puts dingoes and people at risk.

“Even in fenced areas, campers must ensure that all food and rubbish is stored in strong, secure containers and kept in an inaccessible place, such as a vehicle cabin or an enclosed ute tray.

“A tent or annexe is not a secure place, and dingoes have also taken people’s belongings such as clothing, toiletries or shoes that carry the smell of food.

“Fishers should bury fish frames and unused bait at least 50cm deep in the sand to prevent dingoes digging it up.

“During the school holidays, we’re asking everyone to secure your camping area, secure your food and shoo dingoes away if they’re lingering nearby.”

Bins are provided on K’gari, and people are encouraged to use bins properly and never leave bags of rubbish beside bins.

Reasons to prevent dingoes getting access to food and rubbish:

  • Opportunistic feeders: They will eat a wide variety of foods, including rubbish.
  • Habituation: Feeding dingoes or leaving food unattended can lead to them losing their natural fear of humans and becoming familiar and habituated to human-provided food, making them more likely to scavenge.
  • Food availability: There is plenty of natural food for dingoes on K’gari. They are opportunistic predators, and if food is readily available in the form of rubbish, they will likely scavenge for it, especially if it is easier to obtain than hunting.
  • Never feed dingoes: It is illegal and can have serious consequences for both people and dingoes.
  • If dingoes don’t find food at your camping area, they are more likely to hunt or scavenge for natural food.

It is an offence to deliberately or inadvertently feed dingoes. On the spot fines include $2,580 for deliberately feeding a dingo and $464 for food availability. The maximum court-imposed penalty for feeding dingoes is $26,614.

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Stay safe: protect your NFP from email cybercrime

Source: New places to play in Gungahlin

Email compromise presents one of the most reported cyber security risks according to the Australian Signals Directorate (ASD) – the federal agency running Australia’s Cyber Security Centre.

Email accounts are valuable targets for cybercriminals as they can be used to impersonate account owners, spread scams or malicious links, access sensitive information, and perform password resets.

To help keep your organisation safe, put systems and processes in place to reduce the risk of a cyber event, and plan for what to do if one occurs. The ASD recommends that your organisation takes these simple steps to review your email securityExternal Link:

  • check your email settings
  • turn on multi-factor authentication
  • turn on email content filtering
  • train staff and volunteers to recognise suspicious email activity.

The ASD have developed guidance and informationExternal Link to help you to improve your organisation’s cyber defences and help your NFP respond to and recover from cyber incidents.

And if you get a phone call, text message or email that claims to be from the ATO but something feels off, don’t engage with it – visit verify or report a scam on the ATO website or call 1800 008 540 for confirmation.

Keep up to date

Read more articles in the Not-for-profit newsroom and, if you haven’t already, subscribeExternal Link to our free monthly newsletter Not-for-profit news to be alerted when we publish new articles.

For updates throughout the month, Assistant Commissioner Jennifer Moltisanti regularly shares blog posts and updates on her LinkedInExternal Link profile. And you can check out our online platform ATO CommunityExternal Link to find answers to your tax and super questions.

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UPDATE: Charges – Sexual assault – Tiwi Island

Source: Northern Territory Police and Fire Services

Detectives from NT Police Sex Crimes Section have now arrested and charged a 14-year-old male in relation to a sexual assault that occurred on the Tiwi Islands on Sunday.

Around 8:05am, police located a 14-year-old male at a residence, and he was arrested without incident.

The male has been charged with:

  • Sexual Intercourse without consent
  • Deprive a person of personal liberty
  • Aggravated robbery
  • Aggravated assault
  • Gross indecency without consent
  • Aggravated burglary
  • Possess/ use offensive weapon

He has been remanded to appear in court 8 July 2025.

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Avoid these pitfalls when updating NFP details

Source: New places to play in Gungahlin

Having your NFP’s details up to date makes managing your tax and super affairs easier. Having accurate, up-to-date information:

  • helps us contact your organisation with information about important changes in the sector
  • ensures you can access Online services for business for tasks like your NFP self-review return
  • makes managing your tax and super obligations easier.

You should update:

  • ABN details on the Australian Business Register (ABR)
  • Financial institution details with the Australian Taxation Office (ATO)
  • Authorisation details in Relationship Authorisation Manager (RAM).

There are a few pitfalls we see NFPs fall into when notifying us of changes – here’s how you can avoid them.

Pitfall 1: Thinking there’s only one way to update an NFP’s details

There are three ways to notify us of changes.

  1. Online: you can update some details online on the Australian Business RegisterExternal Link, in Online services for businessExternal Link, or a registered tax or BAS agent can update your details. You can update authorisations on Relationship Authorisation ManagerExternal Link (RAM).
  2. Phone: authorised contacts can phone us to update most details (except public officer information). When you call be ready to confirm your identity so we can check you’re authorised to act for your NFP. We’ll ask for your NFP’s name and tax file number or Australian business number. We’ll also ask for 3 items to prove your own identity, so we can check that we’re actually talking to you, and not someone pretending to be you.
  3. Paper: you can use the Change of registration details (NAT 2943) paper form. Fill it out on your computer or device before you print the form, or by hand using a black or dark blue pen and clear BLOCK LETTERS. This is the slowest method to notify us of changes.

Normally, an NFP’s existing associate (principal authority) in RAM adds new associates or removes associates who have stepped away from their old roles.

If the previous principal authority is unavailable, someone newly appointed to an official role can use the Change of registration details (NAT 2943) paper form to notify us you should be the principal authority. You must provide evidence of your approved appointment to a formal position in the NFP. These include meeting minutes that show your appointment, or a notification from the board or committee stating your approved role, such as a letter.

It can take 4 to 8 weeks for us to process this request. Once your details are updated, make sure you keep them current – it’s much faster to update your authorisations online.

Pitfall 3: Incorrectly filling out the Change of registration details form

When filling out the form, it’s especially important to complete:

  • Section A – your NFP’s information
  • Section D – postal and email address
  • Section F – new associate details
  • Section H – signature of the new associate at the declaration, plus attach evidence of their appointment.

Attach your evidence to the back of the form to avoid delays. You’ll be notified by email once your updates are processed.

If you’re unsure about how to update your details and or what you need to update, more information and useful tools are available at ato.gov.au/NFPnotifyofchanges

Pitfall 4: Thinking it can wait

You must update the ABR within 28 days of any of the following changes:

  • entity name or registered business name, Australian company number (ACN) or Australian Registered Body Number (ARBN)
  • associates or official position holders, public officer, name of trustees
  • authorised contact person
  • financial institution account details
  • postal, email or business address
  • main organisation activity.

Tip: before and after your annual general meeting (AGM) is a great time to check and update your records, including adding new authorisations and removing anyone who has stepped down.

More information

SubscribingExternal Link to our monthly Not-for-profit newsletter is a great way to stay up to date with your reporting obligations.

For updates throughout the month, Assistant Commissioner Jennifer Moltisanti regularly shares blog posts and updates on her LinkedInExternal Link profile. And you can check out our online platform ATO CommunityExternal Link to find answers to your tax and super questions.