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new income tax gouge?

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  • pillypillsner
    Junior Member
    • Jan 2004
    • 11
    #1

    new income tax gouge?

    Has anyone heard about the interest on debt no longer being a tax deduction?
    I heard this is being considered.
    Tags: None
    • rodb
      Senior Member
      • May 2002
      • 195
      #2
      Haven't heard that one. It would effect more than agriculture if they tried that one.

      It is not an allowable expense under CAIS which makes for a higher net margin, which is a good thing.

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        • TOM4CWB
          Senior Member
          • Dec 2000
          • 16511
          #3
          Pilly;

          WHat I heard was IF Revenue Canada thought there was no hope of the farm business ever making a profit, then Revenue Canada could disallow the interest expense deduction.

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