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- I posted this question on the SS forum and got no replies, so hoping to do better here.
I borrowed $10k to put down as a deposit on an "off the plan" investment property. Can I claim a tax deduction on the interest on the deposit for the 15 months prior to when I took possession of the property, or is it a capital cost?
Thanks in advance.
RR I would argue it was a loan cost and therefore can be deducted.
It is the same if you drew down from a Line of Credit the interest would be deductible.
Richard Taylor | Australia's leading private lender
Because the loan was intended for an investment property then I would say yes it should be deductible.
Viewing 3 posts - 1 through 3 (of 3 total)
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