Janc replied to the topic Rental Property – Buildiing up the LOC in the forum “How would the ATO view this 13 years, 9 months ago
"How would the ATO view this if we build up the LOC loan to from $60K to say $90K? Would it be a issue or does the "clock start ticking" as far as they are concerned from the day it becomes a rental"A LOC is not much different to a credit limit on a credit card, interest is only applicable to the amount you have spentThis link should be helpful as…[Read more]