Search results

Reply: 2.1.1.1.1.1.2.1.1 From: Dale Gatherum-Goss Hi By redrawing the lump sum repayments you have made, you will still be allowed to claim a tax deduction for the interest providing you use the redrawn amounts for income producing purposes such as a deposit, or otherwise, on a rental...

Reply: 2.1.1.1.1.1.2 From: Dale Gatherum-Goss Hi AL You wrote: "Given item (3) is correct Always Learning now requests someone to spank my bottom with a wooden hair brush whilst saying "Who's a stupid boy, never pay down capital on a IP"! :-)" You deserve two punishments. One for the...

Reply: 2.1.1.1 From: Dale Gatherum-Goss Hi Robert! Hi Geoff! You are right in what you say. Geoff, be careful and have along chat with your accountant. Dale

Reply: 1 From: Dale Gatherum-Goss Hi Geoff! If you redraw money from your LOC to use for further IP's, the interest on the redraw is tax deductible. However, if you redraw money from your LOC for personal reasons, the interest on the redraw is NOT tax deductible. The tax office will...