B Interest expenses overseas



This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

End of attention

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:

Last modified: 25 Nov 2009QC 21714