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Well, I guess the good news is that my accountant is good at his job. That may explain why he is cruising around Europe(again) for the next month. :D Thanks very much for the feedback Dale. The expert opinion and time you give to the Forum is as always, greatly appreciated. :) * Alan...

Well.........I rang the ATO......... I thought the answer to this would have been pretty clear BUT apparently not. Ahhhh..........Dale, how do you do this with the ATO each day? :confused: The officer examining this had one opinion and her supervisor had another. They agreed to...

Will do Michael. So far I have one accountant for and one against............I'll pursue with ATO this week... :)

Thanks for looking anyway Astro................... :)

I think 'we're' right Rolf. I actually mentioned this to another accountant friend the other day and she couldn't see any reason why I couldn't do this. ?? Just wanted to get some informed opinion before I went back to the accountant and suggested he have another look. Don't want to...

I have a LOC where 95% of the drawn funds are used for investment purposes. A small amount, about 5%, is non-deductible. I realise it's always best to keep deductible/non-deductible separate but it's a long story and when drawn I thought that 5% amount would be deductible. Ok.......the 5%...