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  • Profile photo of damitrx2damitrx2
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    @damitrx2
    Join Date: 2009
    Post Count: 2
    February 17, 2015 - 6:41 pm

    Yes I thought as much.

    I am also not sure on this situation

    Can I at least use the loan no 2 / borrowed funds to pay expenses (excluding loan no 1 interest) and claim the interest on the loan no 2 for repairs / rates etc.

    Expenses could be $5-10,000 a year and that money could be better off reducing my PPOR

    Interest on that may be $500 and as its used to turn an income it too would be deductible.

    Rental income would pay the loan no 1`s interest and there fore not capitalizing it.

    Surely this = Safe with the ATO?

    Thanks again

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