Does any one know SOMETHING ABOUT A recent FEDERAL COURT DECISION ON SPLIT LOANS OR INTEREST-CAPITALISING INVESTMENT PRODUCT FOR INVESTORS IT FETURED IN A MAGAZINE CALLED yourmortgage magazine http://www.yourmortgage.com.au/archive/ this site has some good calculators. like to hear your thoughts
crisHi Chris,
Don’t know the answer to your question, but you might want to post it under the ‘Fact or Fiction’ post
Cheers
Sooshie [
]There are no problems, only solutions
Hi Cris,
From what I understand they have lost twice in the lower courts and have gone to the high court to stop people claiming the capitalised interest.
If they loose in the high court again they will probably change the law.! (Yes they can do this, well not exactly them but they will ask the government to change the law …)
APIM
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Australian Property SoftwareAPIM: http://www.apim.com.au
APDM: http://www.apim.com.au/apdm.htm
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Hi All
The Court recent ruled that the taxpayers were entitled to a tax deduction for interest accumulating on income producing debt (Harts case).
The ATO recent (in the last couple of months) won the right to appeal this deceision – this is probably what the article was about.
However, the ATO have said that it will continue to deny any deductions until the appeal is completed.
APIM is probably right. If the ATO lose the appeal then the Government will probably change the law (becuase if they don’t they will lose a lot of money).
Hope this helps.
Cheers
Stu
Property & Finance News
at http://www.prosolution.com.auCris,
can’t offer anything re your question but thanks for the link – I was on this site the other night feeding my knowledge and I hadn’t been able to find it again.
now it’s one of my favourites [
]Regards
Andrew [|)]
]
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