Statute
Section DB 5 — Income Tax Act 2007: Transaction costs: borrowing money for use as capital
Text of the provision Official document
DB 5 Transaction costs: borrowing money for use as capital Deduction (1) A person is allowed a deduction for expenditure incurred in borrowing money that is used as capital in deriving their income. Link with subpart DA (2) This section overrides the capital limitation. The general permission must still be satisfied and the other general limitations still apply. Defined in this Act: capital limitation , deduction , general limitation , general permission , income , Compare: 2004 No 35 s DB 5
Official source: legislation.govt.nz
There are no decisions in our collection citing this provision yet. As new judgments are published, they will appear here.
Search case law on this topic
See judgments from New Zealand courts and tribunals with a plain-English summary and legal holding.
Explore case law →