Legislation

ITAA 1997 s 2C to the Income Tax Assessment Act 1936 (ITAA 1936) apply where a debt incurred in relation to deriving exempt income is forgiven and any interest paid or payable in respect of the debt prior to the forgiveness is not deductible under section 8-1

ATO documents that consider ITAA 1997 s 2C to the Income Tax Assessment Act 1936 (ITAA 1936) apply where a debt incurred in relation to deriving exempt income is forgiven and any interest paid or payable in respect of the debt prior to the forgiveness is not deductible under section 8-1