All Topics / Heads Up! / Loan Repayments and tax

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  • Profile photo of Fudge111Broz00Fudge111Broz00
    Participant
    @fudge111broz00
    Join Date: 2003
    Post Count: 245
    October 20, 2003 - 12:37 am

    Hi steve, simple question

    From reading your book I was of the impression that all Loan repayments are tax deductable. Is this true or is it just the loan interest that is tax deductable.

    Thanks heaps
    Fudge111[:I]

    Profile photo of Steve McKnightSteve McKnight
    Keymaster
    @stevemcknight
    Join Date: 2001
    Post Count: 1,763
    October 20, 2003 - 1:15 am

    Hi,

    The principal component of loan repayments is not deductible.

    And the interest component is only deductible to the extent that the loan it attracts to was taken out for profitable investing purposes.

    Cheers,

    Steve McKnight

    **********
    Remember that success comes from doing things differently.
    **********

    Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
    https://www.propertyinvesting.com

    Success comes from doing things differently

Viewing 2 posts - 1 through 2 (of 2 total)

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