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 Taxation Institute of Australia and has extensive knowledge of State and Federal taxation legislation. Jonathan was appointed by the WA Treasurer, the Hon Eric Ripper, to chair the Reference Committee of the recently concluded State Tax Review, intended to build upon tax reforms arising out of the 2001-2003 Business Tax Review.
Current at 21 September 2007 Current at 29 August 2007
Click here to expand/collapse more articles by Jonathan ILBERY.