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aussieasxboss

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17/04/21

21:38

Post #: 52541597
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Originally posted by Plimsoll: ↑

I’ve had to look at some case law before I agreed with that Boss, if you’ve been in Tax for 30 years , you’ll remember Ferguson v the Commissioner. Just because your a lousy business guy, and use draconian interest rates , doesn’t mean you are can’t deduct credit card interest . I’d be surprised if The commissioner told taxpayers which money lender he should or shouldn’t use , irrespective of a persons poor business and financial judgement.

And on the flip side, the only view the Commissioner will take on a loan sharking operation , is that the profits from the operation are shown assessable income

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hello legend ,

I'm going to have a read about that on austlii now !!!! thank you

I just couldn't remember a case where it was allowed.

hahaha correct!

hope your well , thank you for always sharing your knowledge .

you must of a been a big asset for the commissioner !

when Jordan term ends - I hope Hirschhorn gets the gig. heard him speak at senate estimates / he outgrew kpmg - his such a genius
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