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From: Grant A-Y
Calling all IP finance gurus!
I understand the concept of the tax deductability of a loan being determined on the purpose of the loan.
My question is, (following on from last night's one on inheritance): Can I claim deductions for a loan to buy out my brother's share of a property I own with him if the house is to be used as an IP?
My logic is that I am "buying" his share for my investment purposes.
All help gratefully received and without prejudice of course.
Grant A-Y
Calling all IP finance gurus!
I understand the concept of the tax deductability of a loan being determined on the purpose of the loan.
My question is, (following on from last night's one on inheritance): Can I claim deductions for a loan to buy out my brother's share of a property I own with him if the house is to be used as an IP?
My logic is that I am "buying" his share for my investment purposes.
All help gratefully received and without prejudice of course.
Grant A-Y
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