All Topics / Overseas Deals / Is the interest on borrowings from AUS tax deductible in NZ if buying investments there?

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  • Profile photo of chew36chew36
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    @chew36
    Join Date: 2010
    Post Count: 2
    October 10, 2010 - 8:47 pm

    If purchasing an investment in NZ and borrowing the deposit from Australia – will the borrowing be tax deductible on my NZ tax return? Has anyone got experience with buying in NZ from Australia? Any information would be much appreciated.

    Profile photo of djjkdjjk
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    @djjk
    Join Date: 2010
    Post Count: 87
    October 10, 2010 - 9:02 pm

    Yes it is, so long as the property is used for income producing purposes, and you disclose that income on your return.

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