All Topics / Legal & Accounting / Claiming interest on land?

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  • Profile photo of waynel2waynel2
    Member
    @waynel2
    Join Date: 2004
    Post Count: 311
    April 7, 2005 - 1:22 am

    Hi guys,

    I’m waiting for finance approval and settlement to go through on a block of land myself and my girlfriend have purchased.

    If successful – we plan to build a house on the block in approx 2-3 years. We will then sell this house off once completed.

    Because this is purchased as an investment property does it mean we can claim the interest we’re paying on the block of land – even though it doesn’t have a house on it?

    cheers

    wayne

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    April 7, 2005 - 2:51 am

    Possibly, if your intention is investment.

    Terryw
    Discover Home Loans
    Mortgage Broker
    North Sydney
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    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
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    Profile photo of waynel2waynel2
    Member
    @waynel2
    Join Date: 2004
    Post Count: 311
    April 7, 2005 - 3:43 am

    hi terry,

    yes my intention is definately as an investment… though i may not build the house for 3 or so years…

    cheers

    wayne

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