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When purchasing an investment property is all or part of the initial deposit tax deductable at the end of that first financial year.
None of it.
The interest on the loan is a deduction.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Terry, if you were using funds from an existing LOC to fund the deposit, then essentially, you would have full deductibility (as long as it is an IP) for the interest component on the complete purchase price.
James
Viewing 3 posts - 1 through 3 (of 3 total)
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