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  • Profile photo of butchbutch
    Participant
    @butch
    Join Date: 2004
    Post Count: 1

    When purchasing an investment property is all or part of the initial deposit tax deductable at the end of that first financial year.

    Profile photo of Mortgage HunterMortgage Hunter
    Participant
    @mortgage-hunter
    Join Date: 2003
    Post Count: 3,781

    None of it.

    The interest on the loan is a deduction.

    Cheers,

    Simon Macks
    Mortgage Broker
    http://www.mortgagehunter.com.au
    0425 228 985

    Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

    Profile photo of woodsmanwoodsman
    Member
    @woodsman
    Join Date: 2004
    Post Count: 714

    Terry, if you were using funds from an existing LOC to fund the deposit, then essentially, you would have full deductibility (as long as it is an IP) for the interest component on the complete purchase price.

    James

Viewing 3 posts - 1 through 3 (of 3 total)

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