Hi
Last year I forgot to include some interest payments in my tax return ie: interest paid on a investment loan facility. Can I claim this back in future years or do I miss out forever.
Depending upon how much it is worth you may be able to relodge an amended return. If you don't it is lost as it was incurred in 05/6
yeah, Scott is right. You cannot just add it on to the next years as your income will be different as will various other circumstances, so you will need to amend the return for the year in which in was incurred. Don't worry too much, it is pretty common.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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