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Show at B the deductible interest incurred on money borrowed from overseas sources to:
- acquire income-producing assets
- finance operations, or
- meet current expenses.
The fund should generally withhold an amount of tax (withholding tax) from interest paid or payable to non-residents, and from interest paid to a resident which was derived by the resident through an overseas branch. The fund must remit these amounts to the Tax Office.
If the fund paid interest to non-residents, keep a record of the:
Last modified: 25 Nov 2009QC 21714