All Topics / Finance / Claiming interest – query

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  • Profile photo of dodo_lurkerdodo_lurker
    Participant
    @dodo_lurker
    Join Date: 2009
    Post Count: 25
    August 23, 2014 - 6:25 pm

    Hi,

    I have an IP in my name which I have obtained an additional seperate loan against in order to fund the deposit for IP2, which has been bought through my Family Trust.

    Where do I claim the interest for this deposit – in my own tax return (as the loan is in my name) or in the Trust tax return (as that’s the Property the deposit was used to buy).

    Thanks!

    Profile photo of CatalystCatalyst
    Participant
    @catalyst
    Join Date: 2008
    Post Count: 1,404
    August 23, 2014 - 9:50 pm

    You need to speak to your accountant as the trust should have borrowed the money I think. Are you a trustee of the trust? Did you lend the money to the trust?

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