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Generally, where the relevant income earning activities have ceased, the interest incurred will not be deductible if the taxpayer: · keeps the loan for reasons unassociated with the former income earning activities, or · makes a conscious decision to extend the loan in a way so as there is...

Cgt is from contract date. Therefore daughter will be liable for cgt that occurs during period of settlement. Father has sold property so interest no longer deductible. Terrible position for both parties.