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Say you borrow for an i.p. against your ppor.
Does the interest you then have to pay on your ppor,become deductable?
(I fully understand the interest on the i.p. does)[blink]The key is what the money was spent on.
If an IP, shares, managed funds, etc then deductible. Regardless of the security.
If using your home loan have a seperate split detailed to keep the loans seperate.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Viewing 2 posts - 1 through 2 (of 2 total)
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