Page 38 - P6 Slide Taxation - Lecture Day 2 - Trust
P. 38

Interest free/low-interest loans








          • Deemed interest is calculated annually:




          • Market-related interest –actual interest



          • This is the maximum amount that may be


               attributed to the donor should income accrue



               and section 7 applies.



          • Applied cumulatively: if no income accrues


               during YOA, the maximum amount that may



               be attributed in the following year includes


               the unutilised amount from previous years.





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