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Steele's Case: A Synopsis of the High Court Decision

Published on 24 Mar 1999 | Took place at City West Function Centre, Perth, WA

The long awaited decision in Steele's Case concerning the deductibility of interest was handed down on 4 March 1999. Whilst the significance of this decision for property and infrastructure developers cannot be underestimated, the principles elaborated by the Court are of great interest to all taxpayers.

Individual sessions

Steele's Case: a Synopsis of the High Court Decision

Author(s):  Rob O'CONNOR Topics covered include: Whether interest incurred in purchasing an asset before it produces income is of a capital nature; The status in Australia of the Privy Council decision in the Hong Kong case of Wharf Properties; Why the High Court remitted Steele's case back to the AAt; The implications for property developments.

Materials from this session: