I am not an accountant, but have a read of Steele's case
http://www.tved.net.au/index.cfm?SimpleDisplay=PaperDisplay.cfm&PaperDisplay=http://www.tved.net.au/PublicPapers/June_1999,_Accountants_Education_Channel___Tax,_Interest_Deductibility___Implications_of_Steele_s_Case.html
My...