11. Deductions

Last updated 12 February 2019

A Interest expenses within Australia

Show at A the deductible interest incurred on money borrowed from Australian sources to:

acquire income-producing assets
finance operations
meet current expenses.

Even if the TOFA rules apply to the fund, show at A all interest incurred on money borrowed from Australian sources. This includes interest from financial arrangements subject to the TOFA rules.

If what you show at A includes an amount brought to account under the TOFA rules, also complete item 16 Taxation of financial arrangements (TOFA).

Further Information

For more information, see Guide to the taxation of financial arrangements (TOFA) rules.

End of further information

B Interest expenses overseas

C Salary and wages

D Capital works deductions

E Deduction for decline in value of depreciating assets

P Small business and general business tax break

F Death or disability premiums

G Death benefit increase

I Investment expenses

J Management expenses

Q Administration expenses

U Forestry managed investment scheme deduction

R Foreign exchange losses

L Other deductions

M Tax losses deducted

N Total deductions

O Taxable income or loss

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