Hi all
just wondered if anyone knew what, if any, tax deductions I can make when buying off the plan ?
The situation is that I agree to purchase at $300,000, with settlement (and completion of property) in March 2010. I pay a 10% deposit up front and no staged payments.
I will obviously not be getting any rental income until it is finished, so, until that point, will be paying interest on the deposit.
Is there any tax deductions to be had ?
Should I consider a deposit bond instead of putting my own cash as deposit ?
Many thanks
Neil
just wondered if anyone knew what, if any, tax deductions I can make when buying off the plan ?
The situation is that I agree to purchase at $300,000, with settlement (and completion of property) in March 2010. I pay a 10% deposit up front and no staged payments.
I will obviously not be getting any rental income until it is finished, so, until that point, will be paying interest on the deposit.
Is there any tax deductions to be had ?
Should I consider a deposit bond instead of putting my own cash as deposit ?
Many thanks
Neil