Skip to main content
Skip table of contents

Interest and Dividend Deductions (BJ)

The Interest and Dividend Deductions Schedule (BJ) must be completed where the total interest and dividend deductions being claimed at Items D7 and D8 exceed $4,999. For deductions less than $4,999 the BJ schedule is optional.

Each expense making up the amount must be itemised in the BJ and lodged with the return via ELS. Click [Ctrl+Insert] or [Alt+Insert] to create a new block of fields.

The types of expenses might include:

  • account keeping fees or management fees

  • debits tax

  • interest charged on money borrowed to purchase shares.

Expenses that should NOT be included are:

  • amounts for debits and duty tax on withdrawals relating to an account kept as an essential part of a business. Show these at item P8

  • expenses incurred in earning foreign source interest or dividends. Show these at item 20

  • debt deductions. Show these at item D15

The fields provided on Schedule BJ are:

Description of interest or dividend expense:Provide a description of the type of expense, for example Shares. Up to 76 characters can be entered.
Name of product or investmentProvide a description of the product or investment, for example Telstra Shares.
Name of Payee: Payee TypeIf the payee is an individual, type I. If the Payee is a Company or Institution, type C. Depending on the code selected, the relevant name fields will be opened.
Investment code

Select the relevant code from the list. Valid codes are:

  • BL: Bonds - Linked Bonds and Notes (including return linked to shares, bank bills, exchanges rates, etc.)

  • BO: Bonds/Notes - Other

  • CN: Convertible Notes

  • CP: Converting Preference Shares

  • IR: Instalment Receipts

  • MA: Managed Funds/Trusts - Allocated pensions and Annuities

  • MF: Managed Funds/Trusts - Friendly Society Bonds

  • MI: Managed Funds/Trusts - Insurance Bonds

  • MO: Managed Funds/Trusts - Other (Equity, Income, Growth, Property and MultiSector)

  • MS: Managed Funds/Trusts - Superannuation

  • OT: Other

  • RP: Loans to Related Parties / Entities / Associates

  • SC: Shares - Capital Protected Loan Products

  • SL: Securities Lending Arrangements

  • SM: Shares - Margin Lending

  • SO: Shares - Other

  • SS: Stapled Securities

  • WA: Warrants

Is this a payment in Advance?If the payment was made ahead of time, select Y from the list. Otherwise select N.
Amount claimed as interest deduction

Enter the amount of the expense incurred.

Amount claimed as dividend deduction: Enter the amount of the expense incurred.

Deductions may be claimed against interest income only if a taxpayer can demonstrate that the allowable deduction relates to the earning of that income. The interest deduction is entered in whole dollars only.

JavaScript errors detected

Please note, these errors can depend on your browser setup.

If this problem persists, please contact our support.