I have a credit card that i have not used in the last year, it has a zero balance.
I am about to renovate my new IP and was hoping to used this credit card for a few of the purchases at Bunnings and other suppliers and then pay the balance at the end of the month with my loan linked to the rental property.
I cant see any problem with this but i am i know that logic doesnt always apply to the tax law. Does anyone have any comments on whether this will cause me any deductible issues with the loan?
I am about to renovate my new IP and was hoping to used this credit card for a few of the purchases at Bunnings and other suppliers and then pay the balance at the end of the month with my loan linked to the rental property.
I cant see any problem with this but i am i know that logic doesnt always apply to the tax law. Does anyone have any comments on whether this will cause me any deductible issues with the loan?