All Topics / Finance / Which account do I pay down?

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  • Profile photo of bindin46bindin46
    Participant
    @bindin46
    Join Date: 2006
    Post Count: 12
    May 29, 2012 - 2:07 pm

    Hi all need some advice please
    I have two properties both have interest only loans and I also have a line of credit , the interest from the two loan is taken out of the line of credit and all rents go into the line of credit, this is negatively geared my question is when I get my tax return do I put it into the L of C or do I put it into one or both of the loans, I don’t have any none tax deductible loans.

    Regards

    Profile photo of MikeFMikeF
    Participant
    @mikef
    Join Date: 2008
    Post Count: 60
    May 29, 2012 - 10:54 pm

    Put it in the facility with the highest interest rate. This will generally mean the LOC.

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