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Item 13

Last updated 1 June 2010

Interest or amounts in the nature of interest

(relevant to Australian owned R&D only)

At item 13 write interest expenditure as defined in subsection 73B(1) of the ITAA 1936 and allowable as a deduction under subsection 73B(14A) of the ITAA 1936. This item includes interest, or an amount in the nature of interest, incurred during the year of income in the financing of Australian owned R&D.

You may need to adjust the amount of interest expenditure claimed in accordance with the prepayment provisions (sections 82KZL to 82KZMF of the ITAA 1936) or the debt and equity rules (section 26-26 of the ITAA 1997).

At U and V write the amount of eligible interest expenditure as defined in subsection 73B(1) of the ITAA 1936.

The amount at U must equal the amount at V.

For more information, see:

  • subsections 73B(1) and 73B(14A) of the ITAA 1936
  • Guide to the R&D tax concession.