Question: How to calculate the total debt for Section J?
Answer: "Adding the opening and closing balances of the total debt of the company for the income year, and dividing this sum by two." - Its as per the ATO guidelines / formula. Below link for reference. -
- J Total Debt is the average of the debts over 2years, it is auto calculated.
- User cannot manually adjust this section-Item J if you have imported the financials.