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Can I claim interest on ATO debt paid off?

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I have just paid off a tax debt and wondering if I am able to claim the interest I paid on the debt, in my tax return. If so, where do I enter those details?

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ATO Certified Response

Anonymous

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Yes, you can claim a deduction for ATO interest in the financial year that it is incurred.

 

You can claim at item D10N– Cost of managing tax affairs - Interest charged by the ATO, in the income tax return.

 

ATO general enquiries 13 28 61

 

 

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Most helpful response

ATO Certified Response

Anonymous

Replies 1

Yes, you can claim a deduction for ATO interest in the financial year that it is incurred.

 

You can claim at item D10N– Cost of managing tax affairs - Interest charged by the ATO, in the income tax return.

 

ATO general enquiries 13 28 61

 

 

Devotee Registered Tax Practitioner

Replies 0

@corinneabrown @Anonymous

 

The ATO information states you can claim the interest when it was incurred.

 

ATO interest may appear on the Pre-filling Report or you can calculate by reference to your Income Tax Account.

 

The ATO may have remitted the interest in which case you have a deduction and Interest Income from the ATO.

 

Duncan