Just to put this into context we recieved $1,700 interest and paid tax of $363 tax and the tax return cost us $112 (this is from the EOFY statement).
We are a small 10 lot complex with a SM in QLD. The only income we have are levies and interest and so the Strata pay Corporation tax on this income as above.
So for us it’s def work having term deposits.
I tried reading the tax rule as well but it’s way beyond my capabilities to understand it.