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offsets against LOCs Reply: 2.1.1.2.1.1.1.1.1 From: Gail H Thanks everyone. Finally I understand. Gail

Reply: 2.1 From: Gail H Manny, Isn't the test for tax deductibility the purpose for which the funds are withdrawn/borrowed? I don't understand why the tax office would distinguish on the basis of using offset account rather than LOC. Is this because you would argue that the money in the...