Private ruling: Interest Assessability
Published: January 2012

Ruling: Q1: Is the interest recorded in the financial statements of the Taxpayer required to be included in the assessable income of the Taxpayer under s. 6-5 of the Income Tax Assessment Act 1997 (ITAA 1997)? | A1: Yes | Q2: Is the interest required to be taken into account in calculating the "net income" of the Taxpayer pursuant to s. 90 of the Income Tax Assessment Act 1936 (ITAA 1936)? | A2: Yes | Q3: Are each of the particular entities required to take into account the interest purportedly derived by the taxpayer in calculating their individual interests in the net income of the taxpayers pursuant to s. 92 of the ITAA 1936? | A3: Yes




Please check this edited version to be sure that there are no details remaining that you think may allow you to be identified. If you have any concerns about this ruling you wish to discuss, you will find our contact details in the fact sheet.