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  1. S

    What if circumstances change the "intention"

    Thanks Mry. I will communicate this to my friend. Actually, it is a very good advice.:) Regards Sanjay
  2. S

    What if circumstances change the "intention"

    Ha ha ha.......I wish you were correct jrc.:D Fortunately, I don't believe in building houses. My interest is to buy old house on a big land (subdividable) now.........and develop/subdivide them in 5 yrs time. Currently, I'm full time employee but thinking of being a full time property...
  3. S

    What if circumstances change the "intention"

    Thanx for the replies. So....the Taxman doesn't have any method to "pick" the people with their fake (if there is any, in this case) intention?:eek:
  4. S

    What if circumstances change the "intention"

    Not actually. I think I need to make my question more clear: I can claim tax deduction on the interest paid on loan of a new property in the building phase only when I have the "intention" to make that property for income generating asset i.e. putting it on rent after it completes. If I am...
  5. S

    What if circumstances change the "intention"

    A question with a hypothetical case: I'm building a new house with the "intention" of making it an IP and not the PPOR. The building process takes 2 years and in those 2 yrs I claim my interest on loan in tax. When the property is complete, my circumstances change and instead of keeping the...
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