Forums / Getting Technical / Finance / Overseas income

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  • Profile photo of SebastianSebastian
    Member
    @sebastian
    Join Date: 2003
    Post Count: 55

    Hi,

    I am considering moving over to UK next year for some time. I would like to continue investing in Australia in the mean time and wanted to know how banks would view overseas income when applying for homeloans in Australia?

    Also, looking at refinancing a homeloan that will hit me with a 3% exit fee. Would that be tax deductable as a borrowing expense?

    Thanks

    Sebastian

    Profile photo of woodsmanwoodsman
    Member
    @woodsman
    Join Date: 2004
    Post Count: 714
    Also, looking at refinancing a homeloan that will hit me with a 3% exit fee. Would that be tax deductable as a borrowing expense?

    Mortgage discharge expenses are deductible. These are deductible to the extent that the mortgage is for investment purposes.

    Profile photo of SebastianSebastian
    Member
    @sebastian
    Join Date: 2003
    Post Count: 55

    Thanks Woodsman, thats good news!

    Don’t worry about my first question, found a thread asking the same question a few doors down.

    Sebastian

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