Janc replied to the topic Rental Property – Buildiing up the LOC in the forum “How would the ATO view this 13 years, 10 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]