HI all
I will be moving into my new PPOR shortly..and i assume that interest payments on this are not tax deductible.
however…i plan to rent this house out after living in it for 6 months… and rent somewhere myself whilst hopefully building another IP.
whilst i am renting out my home..and renting elsewhere myself… do the interest repayments become a tax deduction for me?
i am very green when i comes to tax deductions and what i can and cannot claim etc!@!
cheers
LYndon
When you move out and make the property available for rent all costs inc interest should be able to be deducted against your income tax.
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
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.
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