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Hi In that case the person borrowing from the bank won't be able to claim the interest he is paying as it would not be commercial for him to borrow at 5% and lend at 0%. So I don't think it would work. But I am not an accountant.

You mean the trust has lent money and now doesn't want to charge interest? Not sure on the answer, but things to consider: - Trustee has a fiduciary duty to act in the best interest of the trust - It is a commercial transaction? (ato could know back previous years interest claims???) If...