Taxation Determination

TD 92/193W

Income tax: is the interest component of Household Support repayments, under the States and Northern Territory Grants (Rural Adjustment) Act 1988, an allowable deduction under subsection 51(1) of the Income Tax Assessment Act 1936(ITAA)?

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Notice of Withdrawal

Taxation Determination TD 92/193 is withdrawn with effect from today.

1. TD 92/193 relates to the interest component of Household Support repayments, under the States and Northern Territory Grants (Rural Adjustment) Act 1988. TD 92/193 explains that the interest component of the repayments draws its character from the use of the payment. Interest on payments of a private or domestic nature is not deductible under subsection 51(1) of the ITAA.

2. The States and Northern Territory Grants (Rural Adjustment) Act 1988 was repealed with effect from 22 March 2011 by the Statute Law Revision Act 2011.

3. TD 92/193 has no ongoing relevance and is therefore withdrawn without replacement.

Commissioner of Taxation
12 April 2017

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References

ATO references:
NO 1-9N72KXS