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C Gross interest

Last updated 12 February 2019

Show at C the fund's interest income. This amount cannot be a loss.

Even if the taxation of financial arrangements (TOFA) rules apply to the fund, show at C all interest paid or credited to the fund from any source in Australia. This includes interest from financial arrangements subject to the TOFA rules.

If what you show at C includes an amount brought to account under the TOFA rules, also print X in the Yes box at G Taxation of financial arrangements (TOFA) item 16.

See also  

Do not show at C:

  • any interest income derived from foreign sources; this should be shown at D Net foreign income and D1 Gross foreign income
  • any interest income included in a share of net income from a trust; this should be shown at Q Trust distributions other amounts
  • any interest income to the extent it is non-arm’s length income of a complying superannuation fund, complying ADF or a PST; show this amount at U Net non-arm’s length income
  • non-share dividends received from holding a non-share equity interest. If the fund holds such an interest, the issuer is obliged to forward a dividend statement with details of the dividends, which should be shown at J, K and L item 10 as applicable.

See also  

Record keeping

Keep a record of the following:

  • the name and address of borrowers
  • amounts received or credited.