C Gross interest

Did the SMSF earn interest income from an Australian source?

Write at C the total interest income that the SMSF earned in 2020–21. The amount at C should not be reduced by any loss or outgoing related to the income.

Include at C:

• interest earned on money (for example):      
  • in a bank (or similar institution) account
  • that the SMSF has lent to another person or organisation
• interest that is paid by us or credited against another SMSF liability because the SMSF paid a tax liability early (see H1 Credit for interest on early payments – amount of interest in section D).

If you include an amount at C that is exempt current pension income, include it also at Y Exempt current pension income.

Do not include interest income that is:

• derived from foreign sources (write it at D1 Gross foreign income)
• part of a distribution from a partnership (write it at I Gross distribution from partnerships)
• non-share dividends received from holding a non-share equity interest (write it at J Unfranked dividend amount, K Franked dividend amount and L Dividend franking credit as applicable; for more information, see Guide to the debt and equity tests)
• included in a share of net income from a trust (write it at M Gross trust distributions)
• non-arm's length income of a complying SMSF (write it at U3 Net other non-arm's length income).

Continue to: X Forestry managed investment scheme income