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- elkam wrote:
A redraw facility is the ability to re borrow any extra repayments you've made off your loan but you can think of each withdraw as a new little loan which has to pass the "purpose test". If you use a re draw for personal expenses, then even if the original loan is ( or becomes) for investment purposes, then this amount is no longer tax deductible.
I understand that the amount we redraw have to pass the "purpose test", if it is not for investment purposes, the withdraw is not tax deductible, however, how about the increase interest payment due to the withdraw , is it still tax deductible?
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