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10 - Gross interest 2012

Complete question 10 to declare interest paid or credited to you from any source in Australia.

Last updated 31 May 2012

Question 10 image from tax return for individuals form

This question is about interest paid or credited to you from any source in Australia, including accounts and term deposits held with financial institutions in Australia. This includes:

Use Individual tax return supplement 2012 if you have any of the types of interest listed below:

Was any interest paid or credited to you from any source in Australia?




Read below.

Answering this question

You will need:

  • your statements, passbooks and other documentation from your financial institutions and other sources that show 2011-12 interest income
  • any notice of assessment or amended assessment you received from us during 2011-12 that shows interest on early payments or interest on overpayments.

Tax file number (TFN) amounts are amounts of tax withheld by financial institutions because you did not provide your TFN or Australian business number (ABN) to them. TFN amounts are shown on your statement or document as 'Commonwealth tax' or 'TFN withholding tax'. These amounts must be included as gross interest on your tax return.

Do not include any interest credited to a first home saver account, or included as part of a payment to you from such an account, at this item or anywhere else on your tax return.

If you were a non-resident when you received or were credited with the interest, do not include it here; see Special circumstances and glossary for information about non-resident withholding tax on these amounts.

If you had any joint accounts, show only your share of the interest. This will be half if you held the account equally with one other person. Keep a record of how you worked out your proportion if you and the other account holders did not share the amounts of interest equally.

Completing your tax return

Step 1

Add up the amounts of gross interest you received in 2011-12.

Step 2

Write the total amount of your gross interest at L item 10. Do not show cents. If the total was less than $1, do not write anything.

Step 3

Add up all your TFN amounts but do not include any which have already been refunded to you, as shown on your statements. Write the total at M item 10. Show cents.

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