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11. Deductions

Last updated 12 February 2019

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).

See also  

QC35420