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_Katy22(Initiate)Initiate
5 Aug 2021

Hello everyone

I am currently lend my money to the company and receiving some interest from them every month.

and now It is about $10,000 in total. I am just wondering how can I claim to tax return page?

is this count as income?

I would be very appreciated if you could provide me the answer.

kind regards,

Katy

2,792 views
3 replies
2,792 views
3 replies

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Most helpful reply

RichATO(Community Support)Community Support
7 Aug 2021

Hi @Katy22

Do you own the company you are loaning money to?

Or at least you are a major shareholder/owner/employee?

My answer is on the basis that you answer 'yes' to either of these questions.

The interest paid to you by the company is treated as income which you need to declare on your personal tax return.

You may like to read more details about this topic as answered to a previous similar question here. The question topic was a loan provided to the company by the shareholder/director/employee of the company.

All replies

Most helpful reply

RichATO(Community Support)Community Support
7 Aug 2021

Hi @Katy22

Do you own the company you are loaning money to?

Or at least you are a major shareholder/owner/employee?

My answer is on the basis that you answer 'yes' to either of these questions.

The interest paid to you by the company is treated as income which you need to declare on your personal tax return.

You may like to read more details about this topic as answered to a previous similar question here. The question topic was a loan provided to the company by the shareholder/director/employee of the company.

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I lend money to the company and receive some interest where can I claim? | ATO Community