Published on 09 Sep 05
by THE TAX INSTITUTE
A joint professional body submission to the ATO in relation the draft consolidation tax determination TD 2005/D29: can the head company of a multiple entry consolidated group claim a deduction under section 8-1 of the Income Tax Assessment Act 1997 for interest paid on funds borrowed from outside the group by it or a subsidiary member to buy shares in an existing eligible tier-1 company of the group?
NATIONAL INSTITUTE OF ACCOUNTANTS
TAXATION INSTITUTE OF AUSTRALIA