Loans taken up for the purpose of acquiring income
Loans taken up for the purpose of acquiring income are debts incurred in gaining taxable income. The income may be regular income, such as rental, interest or dividend income. The income may also be based on capital appreciation, e.g. if the taxpayer acquires a commercial property or a plot of land for investment purposes.
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Validity of the definition
- Valid until (31 December 2078)