Commissioner of Taxation v Ashwick (Qld) No 127 Pty Ltd

• 1. Income Tax
  2. › whether interest on intra-group loans allowable deductions under s 8-1
  3. › whether incurred in carrying on business for the purpose of producing assessable income within s 8-1(1)(b)
  4. › to be determined objectively by reference to the relationship between what the expenditure is for and the taxpayer’s undertaking or business
  5. › subjective motive not relevant in a case such as this
  6. › whether an outgoing of a capital nature within s 8-1(2)(a).
• 1. Held: Appeals dismissed.

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