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These notes are intended to be a guide only. None of the comments contained in these seminar notes are intended to be advice, whether legal, financial or professional. You should not act solely on the basis of the information contained in these notes because many aspects of the material have been generalised and the tax laws apply differently to different people in different circumstances. Further, as tax and related laws change frequently, there may have been changes to the law since the notes were written. Specific advice should always be obtained from a tax professional.
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Notes Online Home 2014 Tax Hot Spots II What's new in 2014
Recent case denies interest deduction for proposed property development
In this section of the notes we discuss the recent developments in a case that denied interest deduction for a proposed property development. In particular, the following:
- The facts in XTJT
- Whether the taxpayer was carrying on a business of property development