Interest deductibility: searching for clarity in all the confusion
01 May 99 |
INVESTMENT & TAXATION BULLETIN
Issue: Vol 3, No 6
Pages: pp. 68-72
This article tries to to glean from the various cases and rulings of the ATO the key rules determining whether interest is deductible for tax purpose in Australia. Some points referred to are clear cut, while others are less so. The author has tried to indicate where the grey areas are.
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Robert is Senior Tax Counsel at The Tax Institute. Bob was until very recently the Deputy President of the Administrative Appeals Tribunal (AAT), and for over 20 years was a Professor in Taxation Law with the University of New South Wales. Bob specialises in taxation matters, with a special emphasis on international tax. His time with the AAT required extensive involvement in corporate law, social security and immigration matters. He also has experience as a solicitor with a major national law firm, as an independent barrister and as a director with a major accounting firm. He has written widely in his fields of specialisation as well as in the area of financial statements, and is an ongoing contributor to the highly successful Thomson Reuters Australian Tax Handbook.
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29 May 2019