Cameron v Commissioner of Taxation – interest deductibility and FTEs

In this episode, we look at why the interest paid on a sub-trust loan was not deductible and why the Court was not satisfied that a family trust election had not been made.

We also talk about what this means in practice: how far back tax disputes can reach, why contemporaneous documents often hold more weight than a ‘confident’ memory, and in practice, how long you should really be keeping old files.

Listen now.