From: Dale Gatherum-Goss
Hi!
I have just had a phone call from the tax office legal people to explain their view on deposit bonds.
They take the view that the cost is not tax deductible at all. Furthermore, that the cost is not part of a borrowing cost.
The only good part was that we can claim the cost against any future capital gains as part of the cost base of the asset.
I hope that this helps.
Dale
Hi!
I have just had a phone call from the tax office legal people to explain their view on deposit bonds.
They take the view that the cost is not tax deductible at all. Furthermore, that the cost is not part of a borrowing cost.
The only good part was that we can claim the cost against any future capital gains as part of the cost base of the asset.
I hope that this helps.
Dale
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