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Interest Taxation Bill Introduced in Parliament
Treasurer Holt introduced the Interest Taxation Bill to alter income tax on interest from borrowings by certain companies and on convertible notes. The interim scheme limits deductions for some borrowings while allowing permanent treatment for noted investments, with protections for government or public authority loans and provisions to avoid retroactive effects. The measure aims to curb aggressive corporate borrowing and support a continuing scheme for 1959 60.
MENTIONED IN THIS ARTICLE
Holt
House of Soesentatives
Tarim
Lot
Pasoral Finance
Comnes