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Qualifying Interest

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  • May 5, 2020 at 7:46 am
    Qualifying Interest 2
    Noah098
    Participant

    Thank you.

    May 5, 2020 at 7:49 am
    Qualifying Interest 2
    Noah098
    Participant

    Under Reliefs, only QIPs incurred against “Purchase of shares in an employee-controlled trading company by a full-time employee” is allowed.

    Sir I do not understand this statement mentioned in our Study kit. Can you elaborate on this by giving an example.

    Thank you.

    May 5, 2020 at 10:43 am
    Qualifying Interest 4
    Tax Tutor
    Keymaster

    Like the qualifying interest payments (QIP) listed in the study notes it is just another example of a QIP – you simply need to recognise it as such and respond accordingly if you see that example in an exam question!

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