Section DB 6 — Income Tax Act 2007: Interest: not capital expenditure

DB 6 Interest: not capital expenditure Deduction (1) A person is allowed a deduction for interest incurred. Exclusion (2) Subsection (1) does not apply to interest for which a person is denied a deduction under section DB 1 . Conduit financing arrangements [Repealed] (3) [Repealed] Link with subpart DA (4) This section overrides the capital limitation.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, deduction , general limitation , general permission , interest , Compare: 2004 No 35 s DB 6 Section DB 6(3) heading: repealed (with effect on 30 June 2009), on 6 October 2009, pursuant to section 69(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34). Section DB 6(3): repealed (with effect on 30 June 2009), on 6 October 2009, by section 69(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).