Excludible interest on receivables: interest not charged to customers cannot be deducted from assessable value. The Board clarifies that interest actually charged from the buyer for delayed payment is excludible from value, but notional interest or interest costs not charged to the customer cannot be deducted from the assessable value; if interest costs are inbuilt in the price they form part of the pre sale price and cannot be separately excluded.
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Excludible interest on receivables: interest not charged to customers cannot be deducted from assessable value.
The Board clarifies that interest actually charged from the buyer for delayed payment is excludible from value, but notional interest or interest costs not charged to the customer cannot be deducted from the assessable value; if interest costs are inbuilt in the price they form part of the pre sale price and cannot be separately excluded.
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