The company sold this property to the director individually. Is the interest expense deductible for

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(Newbie)Newbie

26 Mar 2024

Our client (a company) paid a third party to construct a property for the purpose of using it as a work office in the future. The company has some interest expenses on the mortgage of the construction cost. The property is built up but never used as a work office, instead the company sold this property to the director individually. Is the interest expense deductible for the company? Or it should be counted as cost base? Thanks

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