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Original Purpose of Borrowing
Reply: 2.1 From: Owen . That's right. Say your claiming the interest on a $100K loan for a rental property (any rental property even if it was originally your home). If you then increase that loan to $150K and use that extra $50K for personal use, you can't claim the extra interest on the...- Owen
- Post #5
- Forum: WebBoard Property Investor Forum Archive
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Original Purpose of Borrowing
Reply: 1 From: Owen . I never new the ATO required refinancing in the first place. We moved out of our home in 1995 to go to NZ, rented it for 14 months or so, claimed tax refunds on everything, moved back in 1996 and are still living in it with no refinancing. It remained our primary...- Owen
- Post #2
- Forum: WebBoard Property Investor Forum Archive