LowRentRacket replied to the topic Using credit card “linked to” LoC to pay IP expenses, then sweeping on a monthly basis – valid ‘nexus’ for tax deduction on LoC? in the forum Finance 13 years, 4 months ago
@jacqui_03 – just wanted to get back to you…I didn’t actually raise with my guy until recently, tax time and all…he was happy with it, using same reference as @Terryw had provided above, for what it’s worth. The usual caveats apply of course, namely—seek your own professional advice!
cheers
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LowRentRacket replied to the topic Using credit card “linked to” LoC to pay IP expenses, then sweeping on a monthly basis – valid ‘nexus’ for tax deduction on LoC? in the forum Finance 13 years, 9 months ago
Sure thing @jacqui_03. mind you, if my accountant is comfy with it, then I won't necessarily bother with the private ruling….cheers
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LowRentRacket replied to the topic Using credit card “linked to” LoC to pay IP expenses, then sweeping on a monthly basis – valid ‘nexus’ for tax deduction on LoC? in the forum Finance 13 years, 9 months ago
Thoroughly helpful, and so quick – thanks @Terryw!
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LowRentRacket replied to the topic Using credit card “linked to” LoC to pay IP expenses, then sweeping on a monthly basis – valid ‘nexus’ for tax deduction on LoC? in the forum Cheers @Terryw, I look at it 13 years, 9 months ago
Cheers @Terryw, I look at it this way too, I just thought that I’d put it out there to see whether anyone had run aground on the ‘nexus’ point. With respect to the notion that all I’m doing is a periodic ‘refinancing’, I don’t suppose you could point me to any ATO guidance that explicitly talks about how interest on investment-related debt remains…[Read more]
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