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54 Interest expenses overseas

Last updated 11 February 2019

Show at Q the amount of interest paid on money borrowed from overseas sources - include this amount at I item 5.

An amount of tax (withholding tax) is generally withheld from interest paid or payable to non-residents, and from interest derived by a resident through an overseas branch. You must remit these amounts to the ATO. You cannot claim a deduction unless you have remitted any withholding tax to the Commissioner. If you have withheld amounts from payments to non-residents, you may need to lodge a PAYG withholding from interest, dividend and royalty payments paid to non-residents - annual report by 31 October 2012.