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Borrowing to pay a deductible loan
Yes, I hadn't heard that one before either! But still not enough to persuade me to buy a holiday house.- JIT
- Post #29
- Forum: Accounting and Tax
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Borrowing to pay a deductible loan
Wow Kenster, I've never heard of that one before?! Might need to check this...... Others agree with this??- JIT
- Post #9
- Forum: Accounting and Tax
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Borrowing to pay a deductible loan
Sorry, to clarify, the LOC is only for investment property expenses. And the bank overdraft facility hasn't been used for anything else before. I think the short answer to my own question is yes...? Just interested in what others think...- JIT
- Post #5
- Forum: Accounting and Tax
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Borrowing to pay a deductible loan
Hi there, If I used 10k from say a bank overdraft facility to pay for eg. an investment property stamp duty expense, and later on fully repaid that overdraft facility (which has a high interest rate on it) with funds from a LOC (with a lower interest rate) secured against another investment...- JIT
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- Replies: 29
- Forum: Accounting and Tax