talk to your accountant
http://www.ato.gov.au/individuals/pa...p=001/002&cy=1

Bwaha

Think of capital as the tree and income as the fruit bourne from that tree.

Interest earned is income not capital!

Taxed at your ordinary marginal tax rates.

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Arguably my Automobile is Awash with Alliteration - Subaru Sti S202

that's what i thought, won't affect me this tax year, but wanted to make sure.

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FOR SALE - [MY REXTC] - Custom Polycarb Plates - PM Me

Interest, whether it is earned from bank deposits, terms deposits, private loans, etc is all declared as "income" on your tax return in the year that you earned it/receive it - you pay tax at whatever your personal tax rate is - there is no capital gain, therefore no CGT.

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MY09 Evo X - 1.6bar@3500rpm - got lag?
Barbagallo - 56.03 (S); 1:08.09 (L)
Collie - 50.77
Possibly the most under-driven Evo X in the world??

^^ What they said.

Add the interest to your wage/salary and pay the tax.

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[COLOR="Gray"]550Nm off a 2L... Just wish it was in the dak dak...[/COLOR]

what i said at the start mate, It all gets rolled in as income...

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C/VALE Represent!!