Interest deductibility: more fine distinctions

Dabner, Justin (1999) Interest deductibility: more fine distinctions. CCH Tax Week, 02 July 1999 (27). pp. 1-3.

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[Extract] In a previous article I discussed the decision of Carr J. in Brown v FC of T98 ATC 4685 (see Tax Week 504 (1998)). I concluded that I hoped and expected that the Commissioner would not appeal the decision as the arguments raised were commercially unacceptable and would further confuse our interest deductibility principles if accepted.

Subsequently, it was learned that this was a test case and an appeal was lodged. Now the Full Federal Court has dismissed the appeal (see Tax Week 381 (1999)). Unfortunately, in so doing it has furthered the trend of enunciating fine distinctions dictating the availability of a deduction.

Item ID: 35323
Item Type: Article (Commentary)
ISSN: 1320-9426
Date Deposited: 03 Feb 2017 01:19
FoR Codes: 18 LAW AND LEGAL STUDIES > 1801 Law > 180125 Taxation Law @ 100%
SEO Codes: 97 EXPANDING KNOWLEDGE > 970118 Expanding Knowledge in Law and Legal Studies @ 100%
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