All Topics / General Property / can i claim interest as a deduction on an off the plan apartment

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  • Profile photo of cs_rlewiscs_rlewis
    Participant
    @cs_rlewis
    Join Date: 2010
    Post Count: 53
    June 23, 2014 - 12:49 pm

    Hello fellow investors,
    My off the plan apartment investment is in the early stages of construction and wont be completed till the end of the year. I have been paying off the little loan i took out to cover the deposit for the last year… My question is can i claim the interest repayments as a tax deduction this coming financial year?

    Cheers

    Profile photo of Jamie MooreJamie Moore
    Participant
    @jamie-m
    Join Date: 2010
    Post Count: 5,069
    June 23, 2014 - 2:33 pm

    Can’t see why you couldn’t claim the interest given the purpose.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
    Email Me | Phone Me

    Mortgage Broker assisting clients Australia wide Email: [email protected]

    Profile photo of cs_rlewiscs_rlewis
    Participant
    @cs_rlewis
    Join Date: 2010
    Post Count: 53
    June 23, 2014 - 2:37 pm

    thanks yes ive been doing some research on the internet and consensus is if the property is for investment purposes then there shouldnt be a problem.

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

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