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29 Jun 11 Application of Part IVA to investment loan interest payment arrangement – draft TD 2011/D8

On 29 June 2011 the ATO released a draft taxation determination which deals with the question: does a taxpayer’s purpose of “paying their home loan off sooner” mean that Part IVA ITAA 1936 cannot apply to an “investment loan interest payment arrangement” of the type described in this determination?: draft Taxation Determination TD 2011/D8.

The answer is no, a taxpayer’s purpose of “paying their home loan off sooner” does not mean that Part IVA cannot apply to an “investment loan interest payment arrangement” of the type described in paragraph 3 of the draft determination.

The closing date for comments on the draft determination is 29 July 2011.