• How do I view the total net deductible interest expense amount (incorporating general interest charge (GIC))?

    This How do I lesson commences from the homepage of the Tax Agent Portal after you have logged in.

    If you do not know the client’s ABN and/or TFN you can find the client on the Directory.

    Step 

    Action 

    Result 

    1. 

    Enter the client’s ABN or TFN on the Homepage in the relevant field under ‘Your clients’ and choose ‘Client accounts’ from the drop down menu.

    Select the Search button.

    The Client account list screen will be displayed.

    2. 

    Select the ‘Integrated client account’.

    The ‘Itemised account - by income tax year’ screen will be displayed.

    3. 

    Select the More display options button.

    The ‘Options for showing account information’ screen will be displayed.

    4. 

    Choose the Tax type summary radio button.

    Then select the Show button.

    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).