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LMI - deductible or not deductible?
That will depend on the terms of your contract with the broker.- Terry_w
- Post #12
- Forum: Accounting and Tax
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LMI - deductible or not deductible?
Brokers are middlemen, it would make no difference from a tax perspective who you used.- Terry_w
- Post #10
- Forum: Accounting and Tax
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LMI - deductible or not deductible?
You would have to if you are using the same property as security. You don't need to change the existing loan if it is IO- Terry_w
- Post #7
- Forum: Accounting and Tax
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LMI - deductible or not deductible?
There are 2 views on this. 1. Yes because it relates to a loan used to purchase an investment property. 2. Not in full, but maybe in part because LMI is charged on the total loan amount. Therefore some of it relates to the owner occupied portion. So only the part associated with the investment...- Terry_w
- Post #2
- Forum: Accounting and Tax