Interest

Interest is not always deductible: Advanced Holdings Pty Ltd ATF The Demian Trust v Commissioner of Taxation

The general principles of deductibility of an outgoing, such as interest depends on the taxpayer meeting certain criteria in incurring the expense: A common example of when interest is deductible includes the interest on a mortgage for an investment property that is used to gain or produce assessable income. But if you were to use the investment...