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If you purchased a property with tenants and an intention to keep renting then this was an IP at the time so prepaying interest was "incurred" at the time of payment. TR 97/7 example 3. If you had prepaid LAST YEAR then it not be an assessable recoupment and if you had sold it there would not...

Did you prepay last year fully intending the property to be used as an IP, but circumstances have changed. Or are you hypothetically asking if you could prepay THIS YEAR when you are unsure if you will change your mind next year. Two VERY different scenarios. Cheers, Rob