If we are building an investment propety and had "drawdowns" on the construction loan but the home won't be finsihed this year and therefore not ready to rent out in this finacial year, can we still claim the interest that's been payable this year as our intention is to rent the properoty or can we not claim it because it's payable before the home is available to rent?
I would say you can as long as you intend it to be an investment property. Confirm with your account.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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