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ZiaHh(Initiate)Initiate
15 Apr 2024

Last and previous financial year I personally made some investments (term deposits) on a bank, accidentally they had me as Australian resident (but I had no tax file number in the system) so my interests got taxed at the highest rate, while they should not be taxed at all (I have to declare them where I am resident, Italy). I fixed it at the bank, however they told me that money has been given to ATO and I have to lodge a tax return to have it back. To lodge a tax return I need a tax file number, so I applied for a tax file number for non residents and now I ‘ve got it. Now I have to lodge a tax return for last 2 financial years to get back my money. How can I declare the interest income in tax return?

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AnitaATO(Community Support)Community Support
17 Apr 2024

Hey @ZiaHh,


When you lodge your tax return, you'll need to fill out question 10 the gross interest section. This is where you'll report the interest and the tax that was withheld.


Remember if you don't need to lodge further tax returns, you'll need to advise us on the last tax return that you lodge.

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How can I declare the interest income in tax return? | ATO Community