Current Unexpired Prepayments
<p>For any prepayments of expenses made now  where the expense covers a future benefit. Usual costs that are prepaid include - 
Interest on loans 
Insurance (insurances are usually prepaid. It is necessary to examine the insurance contract or invoice to assess the coverage dates)
 
Deductibility of prepayments can be an issue. Be sure to check the ATO website for the latest prepaid expense information.
 
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