During the last decade the judiciary and policy makers in both Canada and Australia have struggled to define coherent principles pertaining to the deductibility of interest on borrowed funds. Neither jurisdiction has appeared to make reference to the experiences in the other notwithstanding that...

In an article published in this publication earlier this year (Issue 9, 6 March 2003, paragraph 115) the author outlined the cases and rulings featured in the ongoing issue as to the continued deductibility of interest post business cessation. The author reflected on the ATO's likely response to...