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Terry - I may be incorrect with that view that the full claim would need amending. The ruling takes the view that that at the time the cost is incurred it is necessary to consider the property use. As its rented I believe its 100% deductible. I'm conflicted about the need to amend if use...

That's a good one Terry. Hmmm. Thinking. The purpose for the loan is to acquire the property so it becomes deductible from the time the property use is to earn assessable income. The ATO views in TR93/7 and BPR 1011691954845...

1. Its not a scheme. Its an unavoidable cost in the loan contract. 2. Its interest paid in advance to the bank to compensate for the changed rate . If you understand how a break cost is calculated it represents the discounted (PV) time cost of a stream of money for making the bank agree to...

Husband needs every possible strategy to pull income down to save 49% tax . Wife needs to max income and use low rate threshold from 0-35%. Refinance will address that and benefit long term. First year may save $15K. In tax without impact on CF. Net debt doesn't change....Refinance and leave...

Just identified a strategy for some owners of IPs with fixed rate loans and thought it worth sharing. Client has a three year fixed rate loan. Wants to prepay a years interest. Bank must break the 3 year loan to do this (you cant do a years prepaid on a three year fixed rate) and this...