Interest and fees on loan to purchase shares at the expense of are falling in proportion to that part of the loan , which has actually been disbursed the acquisition of shares.
provision on the tax deductibility of the cost of a loan contracted for the purchase of financial instruments to the investor's tax costs perceived by tax experts as one of the worst provisions in the PIT.
provision financially affect those investors who purchased shares in initial offerings, using the credit funds, but due to the high reduction of the entries received only part of the action. Their tax liability from the sale of shares so purchased will be higher now than before.
And if the reductions to the purchase records share only enough cash resources of the investor, the tax authorities may question the possibility of allocating the cost of these expenditures are proportionate.
According to Robert Morawski, a tax expert at CDM Pekao, if you adopt, in accordance with Article. Paragraph 23. 1 point 38b of the PIT Act (Journal of 2010 No 51, item. 307), the deductible costs may be a contrario include interest and commission paid on the loan (for which he was made to acquire shares) attributable to the proportion Part of the loan that was disbursed for the acquisition of securities, in this case the cost can not be include a penny of commission credit. The client used the 0 percent. credit. So it will interpret this provision of the tax authorities.
The construction of this provision, the legislature did not take into account that, without taking out a loan to the investor would not have happened at all to make a subscription for shares and will buy even smaller quantities of securities. Robert Morawski
notes, however, that the provision can also be explained otherwise. In his opinion, if the loan was used exclusively so. lewarowaniu (multiplication of resources and to record a greater number of shares), and the purchase orders as a result of reduction the client has used only its own resources, described in Article. Paragraph 23. 1 point 38b limit of the PIT law does not apply to such investor. This restriction of proportionality applies only to credit for the purchase, rather than serving lewarowaniu credit. Example
Reducing costs while incurring loan to purchase shares
With 200 thousand loan contracted. zł and commission a thousand. zł for the granting of a, an investor bought shares worth 15 thousand. zł entirely with credit. According to the literal wording of the law on personal income deductible costs include 75 zł (one thousand. Zł x (15 thousand. Zł / 200 thousand. zł).)
Source: Journal Legal Newspaper
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