| Disclaimer You cannot rely on this record in your tax affairs. It is not binding and provides you with no protection (including from any underpaid tax, penalty or interest). In addition, this record is not an authority for the purposes of establishing a reasonably arguable position for you to apply to your own circumstances. For more information on the status of edited versions of private advice and reasons we publish them, see PS LA 2008/4. |
Edited version of private advice
Authorisation Number: 1051789498785
Date of advice: 18 February 2021
Ruling
Subject: Deductibility of interest
Relevant facts and circumstances
The taxpayer applied for a private ruling on the application of section 8-1, Division 230 and section 974-20 of the Income Tax Assessment Act 1997.
A ruling was issued in respect of the relevant provisions.
Relevant legislative provisions
Income Tax Assessment Act 1997 Section 8-1
Income Tax Assessment Act 1997 Subsection 230-55(4)
Income Tax Assessment Act 1997 Section 974-20