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Jon, this is only possible where a unit holder borrows to acquire income producing units. The unit holder must be absolutely entitled to both income and capital for the interest to be deductible too. If a discretionary trustee borrows and the loan is in a beneficiary's name the interest would...

Its generally the title that determines deductibility. Refinancing a loan doesn't change deductibility either. If you have joint loans but only 1 on title it is best to remove the non title party from the loan if possible. This will reduce risk and improve serviceability, without changing any...