This report shows all tax pooling transactions that have either earned or been charged interest
Accessing the report
To access the interest report, navigate to the taxpayer you want to see the report for and then select Reports > Interest report.
By default, you will see data from all financial years - however you can use the filers to drill down in specific tax years and transaction types.
Reading the report
Every transaction within the report will have had interest either generated or charged. You will see the gross interest earned, along with the RWT that has been deducted as part of that transaction.
If any UOMI has been received as part of your tax pooling transfers, this will also appear here.
Finally, the interest that has been charged as part of a swap or purchase will appear within the interest expense column.
💡TIP: each individual line can be clicked on to take you through to the specific transaction that the entry relates to - and can then be downloaded as a PDF.
Use cases
The interest report can be used to confirm any interest charged against tax pooling transactions (which is deductible, as well reconciliation of the RWT account within IRD.
It can be used in conjunction with the balance movement report to determine overall interest for with a tax period.
Note: interest of a sale of tax pooling funds will only appear on the interest report, not within the balance movements report, as this interest never actually impacts the balance of the tax pool.