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B Interest expenses overseas

Last updated 28 July 2020

Show at B the deductible interest incurred on money borrowed from overseas sources to:

  • acquire income-producing assets
  • finance operations, or
  • meet current expenses.

The fund should generally withhold an amount of tax (withholding tax) from interest paid or payable to non-residents, and from interest paid to a resident which was derived by the resident through an overseas branch. The fund must remit these amounts to the Tax Office.

Record keeping

If the fund paid interest to non-residents, keep a record of the:

QC21714