Taxation Ruling

TR 2003/9W

Income tax: deductibility of interest expenses incurred by trustees on borrowed funds used to pay distribution to beneficiaries

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FOI status:

may be released

Notice of Withdrawal

Taxation Ruling TR 2003/9 is withdrawn with effect from today.

1. Taxation Ruling TR 2003/9 was originally published by the Commissioner on 30 July 2003 following a request by the Board of Taxation that the Tax Office publish its view on the application of the tax laws in relation to the issue identified above.

2. The professional bodies expressed some concerns regarding the content of TR 2003/9, and the Tax Office undertook a review of the Ruling. Publication of TR 2005/D4 and the accompanying withdrawal of TR 2003/9 represent the culmination of that review.

Commissioner of Taxation
2 March 2005

References

ATO references:
NO 1039-0731

Related Rulings/Determinations:

TR 2003/9