Viewing 3 posts - 1 through 3 (of 3 total)
If my ears did not deceive me the case was lost.
The product was a split loan with the payments weighted against the nondeductible part withe the interest deductible part capitalising.Lots of returns to be amended, should keep the accounting profession busy for years.
Yep the case has been decided by the High Court and has been held to be an illegal tax scheme.
Anyone who has split loans and capitalised the interest on their home against their investment property and claimed the total as a deduction will need to make amended returns.
Another hit for the investors.
Fair enough – it sounded dodgy from the outset.
Viewing 3 posts - 1 through 3 (of 3 total)
You must be logged in to reply to this topic. If you don't have an account, you can register here.
