Qualifying interest

This topic has 1 reply, 2 voices, and was last updated 4 years ago by Tax Tutor.

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January 9, 2022 at 5:03 pm #645549
ketki15
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Ifram has been employed for many years and has also recently become partner in a partnership. He is in process of completing his tax return and has asked your advice regarding the interest payment he has made.
Why is interest paid on an amount borrowed to finance the acquisition of 2000 shares in a quoted company a non qualifying interest?
January 14, 2022 at 3:50 pm #646052
Tax Tutor
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Again you ask “why” – is it on the list that you need to learn of what represents qualifying loan interest – no it isn’t!
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