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  • C Gross interest



    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

    End of attention

    Show at C the fund's gross interest income unless it is to be included at a different label. Do not reduce gross interest income by any loss or outgoing incurred in gaining or deriving that income.

    If the taxation of financial arrangements (TOFA) rules apply to the fund, include interest from financial arrangements subject to the TOFA rules at C.

    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.

    For information on non-share dividends and non-share equity interests, see Debt and equity tests: overview.

    Record keeping

    Keep a record of the following:

    • the name and address of borrowers
    • amounts received or credited.
    Last modified: 13 Feb 2019QC 48112