Product Ruling

PR 2002/92A - Addendum

Income tax: deductibility of interest incurred on borrowings under the UBS Protected Loan Facility

• Please note that the PDF version is the authorised version of this ruling.
  View the consolidated version for this notice.

FOI status:

may be released

Addendum

This Addendum amends Product Ruling PR 2002/92 to further explain the option of paying interest by instalments as follows:

Insert a full stop at the end of paragraph 11(i), followed by the following text:

'In addition, UBS Warburg may allow Investors the option to pay the interest for any interest payment period in instalments, for example, in 12 equal instalments paid monthly in advance at the beginning of each month during the interest payment period or in 4 equal instalments paid quaterly in advance at the beginning of each quarter. These instalment options may not apply for every interest payment period during the term of the Loan. Investors choosing to pay interest by instalments may be charged a higher rate of interest compared to those paying interest in advance for the whole of the interest payment period;'

Commissioner of Taxation
23 October 2002

References

ATO references:
NO 2002/011971