Good morning
I am in the process of building an IP in Brisbane at the moment. I'm almost positive that I have read on this site (can't find it now) that the interest whilst building is tax deductable as long as your intention for building that property is for rental. I had a discussion with a friend yesterday who is an accountant (not a tax accountant) and she seemed to think that it was not deductable.
I'm now confused?
Help appreciated.
Regards
Dan
I am in the process of building an IP in Brisbane at the moment. I'm almost positive that I have read on this site (can't find it now) that the interest whilst building is tax deductable as long as your intention for building that property is for rental. I had a discussion with a friend yesterday who is an accountant (not a tax accountant) and she seemed to think that it was not deductable.
I'm now confused?
Help appreciated.
Regards
Dan