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Thanks PI. I thought this "new" ruling may have changed some perceptions... I'll do the search and see what comes up. Will also talk to acct. (Mine's fairly conservative, tho', so no doubt will err very much on the side of caution; but that's why I pay him - to keep me out of trouble!!)

Thanks BobbyGee. My accountant isn't open on a Saturday, so thought I'd seek some "opinion" not "free advice" here. :D Will certainly not be going down any particular path without professional advice.

The deductability status of capitalised interest has been a hot topic for a long time, so I read with interest the article in Nov API from Julie Hartman of BAN TACS regarding a new take on this. The question, (if I understand it correctly) is about the dominant purpose test. The article...