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Calculate allowable deductions in respect of the property loan in 1999. A property business on 1 July 1999 borrowed K500 000 to construct residential

Calculate allowable deductions in respect of the property loan in 1999. A property business on 1 July 1999 borrowed K500 000 to construct residential rental property. Loan establishment costs amounted to K5, 000. The terms of the loan was 10% flat rate, repayable over 6 years. The property was build by February 2000 and rental income received from that time.

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