Private ruling: Whether GIC that has been accruing is deductible
Published: February 2013

Ruling: Q1: Is GIC owing by ACo and which has accrued since DD/MM/YYYY deductible under paragraph 25-5(1)(c) of the ITAA 1997? | A1: Yes

Relevant facts and circumstances: Various entities have incurred expenditure in relation to the general interest charge (GIC)

Relevant legislative provisions: Income Tax Assessment Act 1997 Paragraph 25-5(1)(c)

Reasons for decision: Summary: The various entities met all of the requirements of paragraph 25-5(1)(c) of the ITAA 1997

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