Is internet paid on a home loan a tax deduction on your personal income?
Thank you
JamieI didn’t know the internet came with a home loan! (j/k).
As for interest, for where you live (principal place of Residence) the short answer is No.
For investment properties the answer is Yes.
There are ways of getting the tax deductable on your home mortgage but you have to use things like trusts and companies to do so.
Rgds.
Lucifer_auHi Jamie,
If you are talking about the fees for internet payment of an investment property, yes. If you are talking about your isp fees to access the internet, the best you could do would be to apportion them between business and private.
And if you are talking about paying off your own home and not an investment property, then none of the fees are claimable. Unless of course you are in the USA and come under the IRS – very different tax rules to Australia and New Zealand.
Christopher Raynal
Master Accountants Group Limited
PO Box 46018 Herne Bay
Auckland New Zealand
Ph +64 9 360 3259
Fax +64 9 360 2180
http://www.masteraccountants.co.nz
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