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Published: March 25, 2020

Last Updated: April 13, 2020

If a direct link can be drawn between the borrowed money and an eligible use, the interest expense is deductible

 

The Supreme Court of Canada decision in the income tax case of Singleton confirmed the principal that in determining whether interest is deductible, if a direct link can be drawn between the borrowed money and an eligible use, the interest expense is deductible.

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