Hi gang, Can anyone tell me if you can have one big loan for multipull properties or do you need to have seperate loans so you can itemise the interest to each property for taxation ? Will the tax dept. take a congromerate interest figure for all the properties ?
I guess you don’t have to split them up (as long as you can prove that the interest is deductible – i.e. it relates to investment properties).
I you advise you to keep them separate to make it easier if you ever sell any properties (also affects you loan flexibility – I address this in my net article in API – out mid March).
Cheers
Stu
Hi
I agree with Stuart, although someone who could give you more info on keeping it all under one account is Margaret Lomas (www.edestiny.com.au).
Saves on account-keeping fees but the bank will be licking their chops at all the cross-collateralisation.
Regards
Geronimo
‘Better Finance for More Homes Sooner’
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