Section 24O was introduced into the legislation to allow taxpayers to deduct interest incurred on loans taken out to buy shares in certain circumstances. These laws are subject to significant review after the 2021 tax amendments. Do you know what the changes are? Did you know that interest on share purchases could be deductible? This session is for you.
The aim of this session is to go through all the provisions and administrative requirements for the deductibility of interest. This will include:
• What is section 24O and when does it apply?
• What limits are there on the deductibility of interest under section 23N?
• Administrative requirements
• Interplay with section 45 and section 47
Any person who is looking to gain an understanding of the tax consequences of the above would benefit. Any delegate that is looking to get a refresher on the above topics would also be welcome.
