This is a real newbie question and one I should be asking my accountant but if I positively gear a property can I claim 100% of the interest?
Thanks for any help.In short yes you can claim all costs as per most other business/investment costs. The flip side is that you must also declare all income.
These requirements are the same irrespective of whether or not the property is positively or negatively geared.
In one case you have more income than exenses and the other has more expenses than income.
Derek
[email protected]
http://www.pis.theinvestorsclub.com.au
0409 882 958Hi TB
The way I see it is that the interest will come off your income from the property as a legitimate deduction . eg Year income 10,000k interest say 6720k balance 3280k (also claimable is other outgoings and maybe depreciation ??,However if the property is positive, then you will be in front income wise .
Cheers
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