The Resource Deductibility of interest expense
Deductibility of interest expense
Resource Information
The item Deductibility of interest expense represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in International Bureau of Fiscal Documentation.This item is available to borrow from 1 library branch.
Resource Information
The item Deductibility of interest expense represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in International Bureau of Fiscal Documentation.
This item is available to borrow from 1 library branch.
- Summary
- This article presents an overview of the basic structural aspects of the deduction of interest. It reviews the historical background to the current statutory rules, in particular paragraph 20(1)(c), and examines why interest expenses are different from other expenses. The central focus of the article is a discussion of the three major elements in the deduction of interest: 1) the definition of interest, 2) the direct use or tracing test, and 3) timing. This discussion forms the background for an analysis of several proposals for reform of the interest deduction, including the repeal of paragraph 20(1)(c), the adoption of a comprehensive statutory definition of interest, changes to the thin capitalization rules, the introduction of more extensive capitalization rules, and restrictions on the deduction of interest on borrowed money used to earn preferentially taxed income. The authors conclude that comprehensive reform of the interest deduction is both unlikely and ill advised. An ad hoc, incremental approach is preferable
- Language
- eng
- Label
- Deductibility of interest expense
- Title
- Deductibility of interest expense
- Language
- eng
- Summary
- This article presents an overview of the basic structural aspects of the deduction of interest. It reviews the historical background to the current statutory rules, in particular paragraph 20(1)(c), and examines why interest expenses are different from other expenses. The central focus of the article is a discussion of the three major elements in the deduction of interest: 1) the definition of interest, 2) the direct use or tracing test, and 3) timing. This discussion forms the background for an analysis of several proposals for reform of the interest deduction, including the repeal of paragraph 20(1)(c), the adoption of a comprehensive statutory definition of interest, changes to the thin capitalization rules, the introduction of more extensive capitalization rules, and restrictions on the deduction of interest on borrowed money used to earn preferentially taxed income. The authors conclude that comprehensive reform of the interest deduction is both unlikely and ill advised. An ad hoc, incremental approach is preferable
- Citation source
- In: Canadian tax journal = Revue fiscale canadienne. - Toronto. - Vol. 43 (1995),
- http://library.link/vocab/creatorName
-
- Arnold, B.J
- Edgar, T
- Geographic coverage
- North America
- Language note
- English
- http://library.link/vocab/subjectName
- interest deduction
- Label
- Deductibility of interest expense
- Label
- Deductibility of interest expense
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<div class="citation" vocab="http://schema.org/"><i class="fa fa-external-link-square fa-fw"></i> Data from <span resource="http://link.library.ibfd.org/portal/Deductibility-of-interest-expense/qpAEGGnUsqI/" typeof="Book http://bibfra.me/vocab/lite/Item"><span property="name http://bibfra.me/vocab/lite/label"><a href="http://link.library.ibfd.org/portal/Deductibility-of-interest-expense/qpAEGGnUsqI/">Deductibility of interest expense</a></span> - <span property="potentialAction" typeOf="OrganizeAction"><span property="agent" typeof="LibrarySystem http://library.link/vocab/LibrarySystem" resource="http://link.library.ibfd.org/"><span property="name http://bibfra.me/vocab/lite/label"><a property="url" href="http://link.library.ibfd.org/">International Bureau of Fiscal Documentation</a></span></span></span></span></div>
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<div class="citation" vocab="http://schema.org/"><i class="fa fa-external-link-square fa-fw"></i> Data from <span resource="http://link.library.ibfd.org/portal/Deductibility-of-interest-expense/qpAEGGnUsqI/" typeof="Book http://bibfra.me/vocab/lite/Item"><span property="name http://bibfra.me/vocab/lite/label"><a href="http://link.library.ibfd.org/portal/Deductibility-of-interest-expense/qpAEGGnUsqI/">Deductibility of interest expense</a></span> - <span property="potentialAction" typeOf="OrganizeAction"><span property="agent" typeof="LibrarySystem http://library.link/vocab/LibrarySystem" resource="http://link.library.ibfd.org/"><span property="name http://bibfra.me/vocab/lite/label"><a property="url" href="http://link.library.ibfd.org/">International Bureau of Fiscal Documentation</a></span></span></span></span></div>
