Tax Deductions for Interest Expenses
Overview
How and when interest can be deducted by investors and small businesses.
Interest deductions are one of the most often scrutinised claims by the ATO, particularly for property investors and those borrowing to fund a business. This webinar will examine when and how interest expenses can be deducted, exploring the basis of deductions, key problem areas and how recent law changes have negatively impacted the potential to make claims.
During the webinar, you will be guided through the following topics:
- The basis for claiming a deduction for interest expenses
- How the new vacant land rules impact interest deductibility
- Is a deduction due when interest is incurred or paid?
- Claiming interest before an income producing activity has commenced or after it has ceased
- The perils of refinancing
- Mixing private and business/investment borrowing
- Borrowing to pay the ATO
Webinar Learning Outcomes:
Participants will gain a detailed understanding of when and how interest deductions can be claimed, common problem areas and targeted solutions, including an overview of relevant law, cases and ATO guidance.
Suited to:
The webinar is ideal for the development of staff within tax agent and accounting practices who deal with individual clients and small businesses.
You will also be provided with:
- PowerPoint Slide Deck
- Searchable Transcript
- Any Supporting Documentation
- Webinar Recording to view multiple times for up to 6 months
- Q&A Session & follow up contact details
- CPD Quiz & Certificate
Course syllabus
3 lessons
- Video – Tax Deductions for Interest ExpensesVideo
- FeedbackSurvey
- Knowledge QuizTest
Your presenter
Mark Chapman, Director of Tax, H&R Block.H&R Block
Mark is the author of Life and Taxes: A Look At Life Through Tax and has recently edited and updated both the second and third editions of Australian Practical Tax Examples, published in 2019 and 2020 respectively, all published by Wolters Kluwer CCH Australia.
He has over 25 years experience as a tax professional in both the UK and Australia, specialising in tax for small business and individuals. He is a fellow of the Institute of Chartered Accountants in England and Wales, a fellow of CPA Australia and a member of the Chartered Institute of Taxation. He holds a Masters of Taxation Law with the University of New South Wales.
Since 2015, Mark has been Director of Tax Communications with H&R Block Australia. He writes regularly on tax issues for numerous media outlets and presents on topical tax topics at seminars and other events. He broadcasts frequently on radio and television and writes a regular column for Money Magazine and Yahoo7 Finance. As a tax practitioner in the UK, he occupied a number of senior positions before moving to Australia in 2007 to join the Australian Taxation Office (ATO) as a senior director.