You can claim for interest on an early payments made to the ATO more than 14 days before the due date during 2016–17 income year, for the following:
- income tax (including Medicare levy and Medicare levy surcharge) shown on your notice of assessment
- compulsory Higher Education Loan Program (HELP) repayment amount shown on your notice of assessment
- compulsory Student Financial Supplement Scheme (SFSS) debt repayment shown on your notice of assessment
- compulsory Trade Support Loan (TSL) debt repayment shown on your notice of assessment
- compulsory Student Start-up Loan (SSL) repayment shown on your notice of assessment
- compulsory ABSTUDY Student Start-up Loan (ABSTUDY SSL) repayment shown on your notice of assessment
- interest on distributions from non-resident trust estates
- shortfall interest charge
- income tax penalty for the 1999–2000 and earlier income years
- general interest charge for lodging a late income tax return for income years up to and including 1999–2000
- general interest charge on an increase in the tax payable resulting from an amended assessment for income years up to and including 1999–2000.
The following are not early payments:
- pay as you go (PAYG) withholding amounts including
- amounts withheld from interest, dividends and royalties
- amounts withheld by payers, including those withheld for HELP, SFSS or TSL, SSL or ABSTUDY SSL.
- PAYG instalments.
If you have already requested the direct payment of interest on your early payment, do not claim it in your tax return. For more information see Credit for interest on early payments.
Completing this section
You will need:
- notification from the ATO showing the date of the notice, the amount owing and the due date
- details of your date of payment, shown on your bank statement or receipt from the post office or the ATO. Allow three extra days if you posted your payment.
To calculate your interest amount you can:
- Enter your interest amount.
- Select Save and continue.