Published on 24 May 02
by WESTERN AUSTRALIAN DIVISION, THE TAX INSTITUTE
This paper analyses a number of recent cases that have reinforced or developed principles as to deductibility of interest. Those developments have been in some instances restrictive - the Steele decision established that interest can't be excluded from deduction as capital expenditure but the April 2001 Anovoy case means that you may not be out of the 'woods'. The FCT v Jones full Federal Court decision has widened the availability of deductions for interest after failure of an initial investment/borrowing. Also covered ins the cases Hart v FCT, Firth v FCT and Howland Rose v Commissioner of Tax.
Jonathan is a former National President of The Tax Institute with extensive knowledge of State and Federal Taxation legislation and over 30 years of experience in advising upon a wide range of commercial transactions. Jonathan is the senior partner in the Perth law firm of Jackson McDonald. His practice focuses upon revenue law and its impact on businesses and individuals. He has extensive experience in representing clients in relation to tax disputes, advising in resolution of those disputes with the Australian Taxation Office and WA Office of State Revenue and in structuring of businesses, trusts and individual affairs to maximise business operations and succession planning while minimising tax imposts (both Federal and State). He has an on-going involvement, as a life member and past President, in The Tax Institute's education programme and an on-going involvement in tax legislation and administration as deputy chair and member of the Law Council's and Law Society's, taxation committees.
- Current at
01 July 2014