I have little debt on my PPOR and and in the process of getting a LOC for a unit im going owner builder on, which will, once complete be my new PPOR.
my understanding is that i cant claim on the intrest on the house im building, as its being built as a PPOR, and on the house that i will be moving out of i have only little debt.
Pretty sure others have been in similar situations.
Any ideas on how to improve my tax situation?Idealy is like to hold onto the property instead of selling it and re investing it onto another investment, but i guess if thats the only way, well then id have to at least consider the option.
Pretty much all you can do is sell the I.P, put the funds into the new PPoR, then use the equity in the PPoR to buy another I.P.
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