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  • 11. Deductions



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

    End of attention

    A Interest expenses within Australia

    Show at A the deductible interest incurred on money borrowed from Australian sources to:

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

    Even if the TOFA rules apply to the fund, show at A all interest incurred on money borrowed from Australian sources. This includes interest from financial arrangements subject to the TOFA rules.

    If what you show at A includes an amount brought to account under the TOFA rules, also complete item 16 Taxation of financial arrangements (TOFA).

    Further Information

    For more information, see Guide to the taxation of financial arrangements (TOFA) rules.

    End of further information
    Last modified: 13 Feb 2019QC 25835