Commentary

E1.828 Qualifying loan interest—loan to invest in a co-operative

Personal and employment tax

E1.828 Qualifying loan interest—loan to invest in a co-operative

E1.828 Qualifying loan interest—loan to invest in a co-operative

Introduction

The commentary below discusses the income tax relief available for interest paid by to acquire an interest in a co-operative. This should be read in conjunction with E1.820, which includes details about general restrictions that apply to all qualifying loans and the mechanism by which relief is given.

Loan to invest in a co-operative

Interest is eligible for relief if the loan is used by an individual to1:

  1.  

    •     meet the cost of acquiring shares in a co-operative

  2.  

    •     on-lend to a co-operative, where the money is used wholly and exclusively

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