Taxation Ruling
IT 2678W - Notice of Withdrawal
Income tax: deductibility of interest on money borrowed to make superannuation contributions
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Please note that the PDF version is the authorised version of this withdrawal notice.
FOI status:
may be releasedNotice of Withdrawal
Taxation Ruling IT 2678 is withdrawn with effect from today.
1. Taxation Ruling IT 2678 explains when interest incurred on money borrowed to make superannuation contributions is deductible under subsection 51(1) of the Income Tax Assessment Act 1936 (ITAA 1936).
2. Section 67AAA of the ITAA 1936 took effect on 24 December 1992 and applied to costs incurred from 19 August 1992. That section denies a deduction for interest on loans obtained to finance certain superannuation contributions. Taxation Ruling IT 2678 is therefore no longer current.
Commissioner of Taxation
21 February 2007
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