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The tax office views this type of a loan arrangement as tax avoidance, which is why they published the determination. Unfortunately for the tax office, the legislation and the courts still require the tests to be applied as Rob G alluded to earlier. This was also the point of many of the...

The article certainly cherrypicks the way information is presented. I can't see Andrew Gardiner making that quote specifically about the determinations. While the courts are still doing a great job of reminding the tax office not to make stuff up (such as the recent decision in Multiplex)...

Hart's case has been discussed by a few tax professionals when discussing the draft. In fact, you may find the conversation at the bottom of this particular submission very interesting. http://www.taxpayer.com.au/downloads/JointSubmissionTD2011D8_29072011.pdf Pretty disgusting isn't it...

I have so many discussions on the topic at work. The thing is, capitalizing interest is legal under s8-1, the general deduction section. The problem is that the anti avoidance provisions of the Income Tax Assessment Act are so powerful that they can be used to swat down anything at all that...