Hi,
Ok so my question is as follows - all made up numbers
You buy a house for 200k in 2005
It is now worth 400k in 2014
You re-finance the loan so that you now have access to the 400k
You are now paying interest on the 400k
Are there any structures available that would allow you to negatively gear 400k
I know of some people that are doing this now but i believe that this is not legal and if they are caught by the tax man that they could have some answering to do....
Unless of course they are doing legal restructuring in the background that would allow them to do this...
Interested in people's experiences here...
Regards,
Q
Ok so my question is as follows - all made up numbers
You buy a house for 200k in 2005
It is now worth 400k in 2014
You re-finance the loan so that you now have access to the 400k
You are now paying interest on the 400k
Are there any structures available that would allow you to negatively gear 400k
I know of some people that are doing this now but i believe that this is not legal and if they are caught by the tax man that they could have some answering to do....
Unless of course they are doing legal restructuring in the background that would allow them to do this...
Interested in people's experiences here...
Regards,
Q