• How do I view general interest charge (GIC) that I can claim or need to declare in my income tax return?

    Log into the homepage of the Business Portal and follow these steps:

    1. Choose Account details from the left navigation bar and the Account list screen will be displayed.
    2. Select the Integrated client account and the Itemised account – by ATO processed date screen will be displayed.
    3. Select the More display options button and the Options for showing account information screen will be displayed.
    4. Choose the financial year and the Tax type summary radio button in the By Income tax year box.
    5. Select the Show button and the Tax type summary – by income tax year screen will be displayed. The net deductible interest expense amount for the selected account and financial year will be displayed.

    This only shows the net deductible interest amount for the selected account. If you have more accounts, you will need to check these to obtain the total net deductible interest amount.

    This screen also shows the net assessable interest amount for the selected account. The total of these amounts should be shown as income in the relevant tax return.

     

    Back to top

Relying on our information - our commitment to you

We are committed to providing you with advice and guidance you can rely on, so we make every effort to ensure that what we give you is correct.

If you follow our advice or guidance and it turns out to be incorrect, or it is misleading and you make a mistake as a result, we will take that into account when determining what action, if any, we should take.

Some of the advice and guidance on this website applies to a specific financial year. This is clearly marked. Make sure you have the information for the right year before making decisions based on that information.

If you feel that our advice and guidance does not fully cover your circumstances, or you are unsure how it applies to you, contact us or seek professional advice.

Copyright

© Australian Taxation Office for the Commonwealth of Australia

You are free to copy, adapt, modify, transmit and distribute this material as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).