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The Interest Paid on Loans worksheet (hcx) is used to record, interest that does not need to be recorded on the schedule BT, such as, interest paid to financial institutions.

Interest payments recorded on worksheet (hcx) integrate to Form C.

Integration at Item 6 for Expenses:

  • Where the Source is Within Australia, the total interest paid integrates to Form C Item 6, Interest expenses within Australia, Label V.

  • Where the Source is Overseas, the total interest paid integrates to C Form Item 6, Interest expenses overseas, Label J.