The following are issues for all practitioners - we can all learn from each other as we explore:
- interest and the use to which the borrowings are put
- interest incurred before income
- interest incurred after income
- capital protection premiums and Firth's Case and the way the law was changed and what it says now
- split loans and compound interest - the real issues in Hart's Case?
- was the ATO 'interested' in Hart's Case or was it only Part IVA?
- more recent ATO activity No Doc Loans - is it only about default assessment for undeclared income or is this a new 'Firth' issue stirring?